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

July 15, 2020 8:16:26 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6313)
8:14
8:14
Jul. 15, 2020

-84 p
1.6410
Stop Loss
1.6325
Entry
+80 p
1.6245
Target 1
+124 p
1.6200
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 dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. Here we see an accumulation of buyers "locked" with a loss positions. We consider this zone as a resistance.
  5. The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.