The market has stabilized, the first signs of a downtrend appeared
October 9, 2019 7:11:07 AM
Forecast Details
PairEURJPY
Direction
Sell
StatusClosed (117.2)
-60 p
117.80
Stop Loss
117.20
Entry
+55 p
116.65
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell EURJPY.
- We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
- The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
- These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.
