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

July 24, 2019 11:46:54 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.7)
11:45
11:45
Jul. 24, 2019

-55 p
0.7055
Stop Loss
0.7000
Entry
+60 p
0.6940
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  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. This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.