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

February 11, 2021 9:23:13 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.56)
21:21
21:21
Feb. 11, 2021

-70 p
1.5715
Stop Loss
1.5645
Entry
+65 p
1.5580
Target 1
+95 p
1.5550
Target 2
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. 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