Help Ukraine! Today, Ukraine Is Fighting for Freedom and the Future of Democracy in Europe. Help Ukraine! Donate Verified Charity

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

January 20, 2020 7:03:05 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.1130)
Start
End
Jan. 20, 2020
Jan. 27, 2020

-110 p
1.1240
Stop Loss
1.1130
Entry
+120 p
1.1010
Target 1
Chart & Analyst Comments
main-sell-trend-2

The downwards scenario is quite obvious, but the presence of a large number of "fellow travelers" will not allow the price to immediately go down. We expect a false move up and afterwards set up a Sell Limit.

  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. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. 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.
  4. We are setting Stop Loss for our Sell trade at the level with the lowest amount of stop losses of other market participants.
    index: 1x 0.036010026931763s
t_/pages/forecast: 1x 0.032994985580444s
t_/common/header-new: 1x 0.020497798919678s
t_/common/head: 1x 0.016838073730469s
t_/common/footer-new: 1x 0.003403902053833s
router_page: 1x 0.0015618801116943s
t_/popups/on-download: 1x 0.00089502334594727s
router: 1x 0.0008540153503418s
service-routes: 1x 0.00028204917907715s
router_redirection: 1x 0.0001370906829834s
t_/popups/zoom: 1x 3.1948089599609E-5s
----- END OF DUMP (2022-08-11 08:23:08)  -----