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EURAUD - Upward trend will continue, Long trade by market price recommended

October 16, 2020 5:29:12 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6620)
5:19
5:19
Oct. 16, 2020

+80 p
1.6620
Target 2
+55 p
1.6595
Target 1
1.6540
Entry
-75 p
1.6465
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURAUD. As a result, we recommend considering only Long trades at this time.
  2. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.
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