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

May 15, 2020 5:31:47 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.081)
5:30
5:30
May 15, 2020

-64 p
1.0890
Stop Loss
1.0825
Entry
+64 p
1.0760
Target 1
+115 p
1.0710
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell EURUSD.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 1.076, and the second one, in case of an active price decrease, is at the level - 1.071