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

June 3, 2019 6:10:15 PM by Patrick Yang
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6955)
Start
End
Jun. 3, 2019
Jun. 10, 2019

-90 p
0.7080
Stop Loss
0.6990
Entry
+110 p
0.6880
Target 1
+164 p
0.6825
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratios indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  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.