EURUSD - Downward trend will continue, Short trade by market price recommended
March 12, 2019 8:47:28 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.1355)
-100 p
1.1355
Stop Loss
1.1255
Entry
+84 p
1.1170
Target 1
+120 p
1.1135
Target 2
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- 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.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.