EURAUD - Upward trend will continue, Long trade by market price recommended
May 7, 2019 11:19:12 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.601)
+80 p
1.6050
Target 1
1.5970
Entry
-69 p
1.5900
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- A significant cluster of sellers is below the current price, this is evidenced by a sharp increase in Profit Ratio every time the price decreases. Downward movement is difficult, correction is possible.
- We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.