EURAUD - Upward trend will continue, Long trade by market price recommended
September 25, 2020 6:16:19 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.6455)
+95 p
1.6620
Target 2
+65 p
1.6590
Target 1
1.6525
Entry
-70 p
1.6455
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on EURAUD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.659
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
