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 critical value, too many traders expect an upward movement. In this case, we recommend selling 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. Price increase is accompanied by reversal signals for Profit Ratio.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.