EURUSD - Downward trend will continue, Short trade by market price recommended
July 29, 2019 6:33:02 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.1125)
-115 p
1.1240
Stop Loss
1.1125
Entry
+104 p
1.1020
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- 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.