EURAUD - Upward trend will continue, Long trade by market price recommended
June 17, 2019 8:50:40 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.637)
+69 p
1.6400
Target 2
+40 p
1.6370
Target 1
1.6330
Entry
-40 p
1.6290
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- Here is the crucial stop loss level to serve as a goal for our Buy trade idea.