The market has stabilized, the first signs of a downtrend appeared

July 30, 2019 5:48:08 PM by Alexander Zorevyk
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (75)
17:47
17:47
Jul. 30, 2019

-50 p
75.50
Stop Loss
75.00
Entry
+50 p
74.50
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.