EURAUD - Upward trend will continue, Long trade by market price recommended
September 29, 2021 11:08:50 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.618)
+85 p
1.6180
Target 2
+65 p
1.6160
Target 1
1.6095
Entry
-60 p
1.6035
Stop Loss
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 short positions on EURAUD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Price broke through the MVP line and rushed up. We consider this a sign for further EURAUD price increase.
- The first target is at the level of the previous peak - 1.616, and the second one, in case of an active price increase, is at the level - 1.618
