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

July 1, 2019 6:59:55 PM by Patrick Yang
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (75.7)
Start
End
Jul. 1, 2019
Jul. 8, 2019

-90 p
76.20
Stop Loss
75.30
Entry
+84 p
74.45
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. 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.
  3. MVP line is above the price and acts as a resistance level.
  4. 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.