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

September 6, 2019 1:38:35 PM by Patrick Yang
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.619)
Start
End
Sep. 6, 2019
Sep. 13, 2019

-160 p
1.6350
Stop Loss
1.6190
Entry
+155 p
1.6035
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The last downward movement has brought a volume of sellers, which implies a small price correction. Enter the deal with a Sell Limit order.
  2. The Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
  3. Here is the crucial stop loss level to serve as a goal for our trading idea.
  4. There is an increase in sell orders when the price attempts to move down. We expect an upward movement to eliminate accumulated sellers, so we recommend to set Sell Limit at 1.619.