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

December 17, 2019 7:52:42 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.629)
7:44
7:44
Dec. 17, 2019

+84 p
1.6320
Target 2
+55 p
1.6290
Target 1
1.6235
Entry
-64 p
1.6170
Stop Loss
Chart & Analyst Comments
EURAUD - Upward trend will continue, Long trade by market price recommended

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. The first target is at the level of the previous peak - 1.629, and the second one, in case of an active price increase, is at the level - 1.632