- 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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- Price broke through the MVP line and rushed up. We consider this a sign for further EURAUD price increase.
- We are focused on the breakdown of the previous peak, the target at the level of 1.59.
Chart & Analyst Comments
