EURAUD - Downward trend will continue, Short trade by market price recommended
June 22, 2020 1:30:27 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.6265)
-90 p
1.6385
Stop Loss
1.6295
Entry
+94 p
1.6200
Target 1
+140 p
1.6155
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
