EURAUD - Downward trend will continue, Short trade by market price recommended
February 11, 2021 9:23:13 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.56)
-70 p
1.5715
Stop Loss
1.5645
Entry
+65 p
1.5580
Target 1
+95 p
1.5550
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.558, and the second one, in case of an active price decrease, is at the level - 1.555
