EURAUD - the pair is about to leave the range of flat

December 6, 2019 6:48:39 AM by Patrick Yang
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6170)
Start
End
Dec. 6, 2019
Dec. 13, 2019

+150 p
1.6370
Target 1
1.6220
Entry
-150 p
1.6070
Stop Loss
Chart & Analyst Comments
main-breakout-1

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. We are focused on the breakdown of the previous peak, the target at the level of 1.637.
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