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

September 29, 2021 11:08:50 AM by Alex Zarevich
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6180)
11:05
11:05
Sep. 29, 2021

+85 p
1.6180
Target 2
+65 p
1.6160
Target 1
1.6095
Entry
-60 p
1.6035
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  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. Price broke through the MVP line and rushed up. We consider this a sign for further EURAUD price increase.
  4. 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
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