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

January 17, 2023 12:18:42 PM by Alex Zarevich
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.5500)
12:18
12:18
Jan. 17, 2023

+80 p
1.5660
Target 1
1.5580
Entry
-80 p
1.5500
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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. While in flat, the price often crosses the MVP line, since it reflects price balance. Today's short-term Buy forecast aims to cross this line.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.
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