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

October 26, 2020 5:38:48 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6550)
17:34
17:34
Oct. 26, 2020

-95 p
1.6720
Stop Loss
1.6625
Entry
+95 p
1.6530
Target 1
+140 p
1.6485
Target 2
Chart & Analyst Comments
main-sell-market-trend-1

For today's forecast, we recommend a Sell Order at this recommended market price - 1.6625. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The first target is at the level of the previous bottom - 1.653, and the second one, in case of an active price decrease, is at the level - 1.6485
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