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

May 31, 2019 6:00:41 AM by Jacob Powell
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.112)
5:58
5:58
May 31, 2019

-30 p
1.1150
Stop Loss
1.1120
Entry
+30 p
1.1090
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURUSD. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.