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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairEURAUD
Publication Time10/26/20 5:38 PM
Direction Sell
Status Closed (1.6550)
17:34
17:34
Oct. 26, 2020
Forecast
-95 p
1.6720
Stop Loss
1.6625
Entry
+95 p
1.6530
Target 1
+140 p
1.6485
Target 2
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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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