The market has stabilized, the first signs of a downtrend appeared
July 1, 2019 6:59:55 PM
Forecast Details
PairAUDJPY
Direction
Sell
StatusClosed (75.7)
-90 p
76.20
Stop Loss
75.30
Entry
+84 p
74.45
Target 1
About Author
Patrick Yang
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.
- 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.