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EURAUD - Downward trend will continue, Short trade by market price recommended

September 8, 2020 7:51:41 AM by Alex Zarevich
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6280)
7:50
7:50
Sep. 8, 2020

-70 p
1.6280
Stop Loss
1.6210
Entry
+75 p
1.6135
Target 1
+120 p
1.6090
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. 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.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. 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.
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