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

February 25, 2020 12:03:40 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.647)
11:59
11:59
Feb. 25, 2020

+74 p
1.6500
Target 2
+44 p
1.6470
Target 1
1.6425
Entry
-50 p
1.6375
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 - 1.6425. 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. The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. MVP line is below the price and acts as a support level.
  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.