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

September 23, 2019 6:26:04 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.105)
Start
End
Sep. 23, 2019
Sep. 30, 2019

-100 p
1.1150
Stop Loss
1.1050
Entry
+110 p
1.0940
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  4. The last downward movement has brought a volume of sellers, which implies a small price correction. Enter the deal with a Sell Limit order.