The market has stabilized, the first signs of an uptrend appeared

June 13, 2019 11:13:44 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6345)
11:09
11:09
Jun. 13, 2019

+74 p
1.6400
Target 2
+54 p
1.6380
Target 1
1.6325
Entry
-55 p
1.6270
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

We are expecting upward trend to continue for EURAUD currency pair. Long trades only. See below for the summary of analysis:

  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  4. We see two clusters of stop losses above the price on which we set our first and second targets according to our forecast.