EURUSD - Downward trend will continue, Short trade by market price recommended
April 2, 2019 8:02:27 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.128)
-74 p
1.1280
Stop Loss
1.1205
Entry
+70 p
1.1135
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- 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.