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

January 22, 2020 7:31:50 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.615)
19:26
19:26
Jan. 22, 2020

+54 p
1.6260
Target 1
1.6205
Entry
-55 p
1.6150
Stop Loss
Chart & Analyst Comments
EURAUD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 1.6205. This idea is based on the following analysis:

  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 idea of ​​this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.