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EURAUD - Downward trend will continue, Short trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairEURAUD
Publication Time9/30/24 7:15 AM
Direction Sell
Status Closed (1.6080)
7:15
7:15
Sep. 30, 2024
Forecast
-125 p
1.6225
Stop Loss
1.6100
Entry
+120 p
1.5980
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 1.598
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