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

February 24, 2020 8:13:37 AM by Patrick Yang
Forecast Details
PairEURUSD
Direction Sell
StatusClosed (1.0775)
Start
End
Feb. 24, 2020
Mar. 2, 2020

-115 p
1.0890
Stop Loss
1.0775
Entry
+114 p
1.0660
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. MVP line is above the price and acts as a resistance level.