EURAUD - Downward trend will continue, Short trade by market price recommended

September 27, 2019 6:15:27 AM by Patrick Yang
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.627)
Start
End
Sep. 27, 2019
Oct. 4, 2019

-120 p
1.6270
Stop Loss
1.6150
Entry
+129 p
1.6020
Target 1
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.