EURAUD - Upward trend will continue, Long trade by market price recommended
May 31, 2019 11:40:11 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.6195)
+100 p
1.6245
Target 1
1.6145
Entry
-84 p
1.6060
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 present level of MVP, which is below the current price, favors Buy Orders.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.