EURUSD - Downward trend will continue, Short trade by market price recommended

April 2, 2019 8:02:27 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.128)
Start
End
Apr. 2, 2019
Apr. 9, 2019

-75 p
1.1280
Stop Loss
1.1205
Entry
+70 p
1.1135
Target 1
Chart & Analyst Comments
EURUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. 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.