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

November 10, 2020 6:45:28 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.618)
6:43
6:43
Nov. 10, 2020

-70 p
1.6320
Stop Loss
1.6250
Entry
+70 p
1.6180
Target 1
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  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 increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  3. MVP line is above the price and acts as a resistance level.
  4. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  5. We are focused on the breakdown of the previous bottom, the target at the level of 1.618.