The market has stabilized, the first signs of a downtrend appeared
July 10, 2019 6:00:15 PM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (75.65)
-45 p
75.70
Stop Loss
75.25
Entry
+40 p
74.85
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell AUDJPY.
- There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
- MVP line is above the price and acts as a resistance level.
- 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.
