EURAUD - Downward trend will continue, Short trade by market price recommended
March 15, 2021 8:37:56 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.5435)
-55 p
1.5435
Stop Loss
1.5380
Entry
+50 p
1.5330
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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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.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
- MVP line is above the price and acts as a resistance level.
- The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.533
