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EURAUD - Upward trend will continue, Long trade by market price recommended

Patrick Yang on FXSSI Patrick Yang Expert
main-buy-market-trend-1
Forecast Details
PairEURAUD
Publication Time5/31/19 11:40 AM
Direction Buy
Status Closed (1.6195)
May 31, 2019
Jun. 7, 2019
Forecast
+100 p
1.6245
Target 1
1.6145
Entry
-85 p
1.6060
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The present level of MVP, which is below the current price, favors Buy Orders.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
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