The market has stabilized, the first signs of an uptrend appeared
February 21, 2020 6:43:07 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.6265)
+164 p
1.6430
Target 1
1.6265
Entry
-164 p
1.6100
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 Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- These buyers' stop loss will most likely be triggered before the upward movement. From this level you should Buy. In our case, we have set a Buy Limit order.