The market has stabilized, the first signs of an uptrend appeared

October 11, 2019 7:52:09 AM by Patrick Yang
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.635)
Start
End
Oct. 11, 2019
Oct. 18, 2019

+199 p
1.6400
Target 2
+149 p
1.6350
Target 1
1.6200
Entry
-150 p
1.6050
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. The present level of MVP, which is below the current price, favors Buy Orders.
  4. 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.