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

November 16, 2020 10:02:04 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6275)
22:00
22:00
Nov. 16, 2020
-80 p
1.6275
Stop Loss
1.6195
Entry
+95 p
1.6100
Target 1
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
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