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

July 20, 2021 1:35:32 PM by Alex Zarevich
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6035)
13:33
13:33
Jul. 20, 2021
+60 p
1.6160
Target 1
1.6100
Entry
-65 p
1.6035
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
  4. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  5. 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.
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