EURAUD - Downward trend will continue, Short trade by market price recommended
December 14, 2020 7:21:10 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.6085)
-75 p
1.6180
Stop Loss
1.6105
Entry
+75 p
1.6030
Target 1
+105 p
1.6000
Target 2
About Author
Alexander Zorevyk
Expert
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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.
- 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 - 1.603, and the second one, in case of an active price decrease, is at the level - 1.6
