The market has stabilized, the first signs of an uptrend appeared
October 11, 2019 7:52:09 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.635)
+199 p
1.6400
Target 2
+149 p
1.6350
Target 1
1.6200
Entry
-150 p
1.6050
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The present level of MVP, which is below the current price, favors Buy Orders.
- 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.