The market has stabilized, the first signs of a downtrend appeared
July 30, 2019 5:48:08 PM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (75)
-50 p
75.50
Stop Loss
75.00
Entry
+50 p
74.50
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.
