EURAUD - Downward trend will continue, Short trade by market price recommended
June 28, 2021 8:02:03 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.581)
-80 p
1.5810
Stop Loss
1.5730
Entry
+80 p
1.5650
Target 1
+105 p
1.5625
Target 2
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 long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
- The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.565, and the second one, in case of an active price decrease, is at the level - 1.5625
