EURAUD - Upward trend will continue, Long trade by market price recommended

May 29, 2019 11:46:57 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.615)
11:46
11:46
May 29, 2019

+50 p
1.6200
Target 1
1.6150
Entry
-40 p
1.6110
Stop Loss
Chart & Analyst Comments
EURAUD - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.