EURAUD - Downward trend will continue, Short trade by market price recommended
November 10, 2020 6:45:28 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.618)
-70 p
1.6320
Stop Loss
1.6250
Entry
+70 p
1.6180
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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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 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.
- MVP line is above the price and acts as a resistance level.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- We are focused on the breakdown of the previous bottom, the target at the level of 1.618.
