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

May 17, 2019 11:28:19 AM by Patrick Yang
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.6215)
Start
End
May 17, 2019
May 24, 2019

+139 p
1.6300
Target 1
1.6160
Entry
-140 p
1.6020
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

In this forecast, we recommend that open a Buy Limit order at 1.616. This idea is based on the following analysis:

  1. The Current Ratios indicator have reached critical value, too many traders expect a downward movement. In this case, we recommend standing aside with short trades. Long trades only.
  2. The Profit Ratio indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The activity of "fresh" sellers in an uptrend may indicate that the market crowd still does not believe in a bullish trend.
  4. We see a cluster of loss sellers below the current price. This cluster can act as a support.