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

June 28, 2021 8:02:03 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.5810)
7:56
7:56
Jun. 28, 2021

-80 p
1.5810
Stop Loss
1.5730
Entry
+80 p
1.5650
Target 1
+105 p
1.5625
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. 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.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. MVP line is above the price and acts as a resistance level.
  5. 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
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