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

October 24, 2019 7:55:33 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.622)
19:53
19:53
Oct. 24, 2019

+100 p
1.6380
Target 2
+70 p
1.6350
Target 1
1.6280
Entry
-59 p
1.6220
Stop Loss
Chart & Analyst Comments
EURAUD - Upward trend will continue, Long trade by market price recommended
  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. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. The first target is at the level of the previous peak - 1.635, and the second one, in case of an active price increase, is at the level - 1.638