The market has stabilized, the first signs of an uptrend appeared

April 16, 2019 7:43:00 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Buy
StatusClosed (1.1225)
Start
End
Apr. 16, 2019
Apr. 23, 2019

+74 p
1.1360
Target 1
1.1285
Entry
-60 p
1.1225
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared

For this forecast, we recommend to set Buy Limit at the following price - 1.1285. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURUSD. As a result, we recommend considering only Long trades at this time.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  5. The risk-to-profit ratio allows us to set Take Profit for a Long trade at 1.136