EURUSD - Downward trend will continue, Short trade by market price recommended
September 30, 2019 6:01:45 AM
Forecast Details
PairEURUSD
Direction
Sell
StatusClosed (1.098)
-130 p
1.1065
Stop Loss
1.0935
Entry
+124 p
1.0810
Target 1
About Author
Patrick Yang
Expert
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Total votes: 129
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell EURUSD.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
