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

November 25, 2020 9:45:06 AM by Alex Zarevich
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6170)
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
main-sell-market-trend-1
  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
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