EURAUD - Downward trend will continue, Short trade by market price recommended
September 8, 2020 7:51:41 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.628)
-70 p
1.6280
Stop Loss
1.6210
Entry
+75 p
1.6135
Target 1
+120 p
1.6090
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
