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

For this forecast, we recommend to set Buy Limit at the following price - 1.616. This idea is based on the following 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 Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.