EURAUD - Upward trend will continue, Long trade by market price recommended
March 6, 2020 6:26:30 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.715)
+160 p
1.7150
Target 1
1.6990
Entry
-140 p
1.6850
Stop Loss
About Author
Patrick Yang
Expert
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Total votes: 9
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
