EURAUD - Upward trend will continue, Long trade by market price recommended
October 16, 2020 5:29:12 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.662)
+80 p
1.6620
Target 2
+55 p
1.6595
Target 1
1.6540
Entry
-75 p
1.6465
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 4
Buy or Sell
Chart & Analyst Comments
- 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.
- We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.
