EURAUD - Upward trend will continue, Long trade by market price recommended
July 20, 2021 1:35:32 PM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.6035)
+60 p
1.6160
Target 1
1.6100
Entry
-65 p
1.6035
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
