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

June 30, 2021 8:08:53 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.5875)
8:06
8:06
Jun. 30, 2021

+75 p
1.5900
Target 1
1.5825
Entry
-75 p
1.5750
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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. Price broke through the MVP line and rushed up. We consider this a sign for further EURAUD price increase.
  5. We are focused on the breakdown of the previous peak, the target at the level of 1.59.
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