EURAUD - Downward trend will continue, Short trade by market price recommended

November 25, 2020 9:45:06 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.617)
9:40
9:40
Nov. 25, 2020

-70 p
1.6265
Stop Loss
1.6195
Entry
+65 p
1.6130
Target 1
+95 p
1.6100
Target 2
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell EURAUD.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
  4. The first target is at the level of the previous bottom - 1.613, and the second one, in case of an active price decrease, is at the level - 1.61