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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 (1.5580)
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
main-sell-market-trend-1
  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.
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