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

May 11, 2021 7:22:53 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.558)
7:16
7:16
May 11, 2021

-85 p
1.5580
Stop Loss
1.5495
Entry
+85 p
1.5410
Target 1
+115 p
1.5380
Target 2
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of EURAUD price is expected.
  4. MVP line is above the price and acts as a resistance level.
  5. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.