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

November 8, 2019 7:17:02 AM by Patrick Yang
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6247)
Start
End
Nov. 8, 2019
Nov. 15, 2019

-200 p
1.6350
Stop Loss
1.6150
Entry
+195 p
1.5955
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.

  1. According to the Current Ratios indicator, the market crowd inclined to believe in an upward movement. We recommend Short trade for today.
  2. Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
  3. There is an increase in Sell Orders when the price attempts to move down. We expect an upward movement to eliminate the accumulated sellers. We recommend to set Sell Limit at 1.615.