EURAUD - Upward trend will continue, Long trade by market price recommended
January 31, 2020 7:37:29 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.6535)
+124 p
1.6535
Target 1
1.6410
Entry
-120 p
1.6290
Stop Loss
About Author
Patrick Yang
Expert
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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.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- The idea of this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The risk-to-profit ratio allows us to set Take Profit for a Long trade at 1.6535