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

September 29, 2021 11:08:50 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.618)
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
EURAUD - Upward trend will continue, Long trade by market price recommended
  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