EURAUD - Downward trend will continue, Short trade by market price recommended
November 25, 2020 9:45:06 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.617)
-70 p
1.6265
Stop Loss
1.6195
Entry
+65 p
1.6130
Target 1
+95 p
1.6100
Target 2
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell EURAUD.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- 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
