AUDJPY - Downward trend will continue, Short trade by market price recommended

June 5, 2019 3:34:14 PM by Alex Zarevich
Forecast Details
PairAUDJPY
Direction Sell
StatusClosed (75.40)
15:29
15:29
Jun. 5, 2019

-45 p
75.85
Stop Loss
75.40
Entry
+40 p
75.00
Target 1
+70 p
74.70
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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 activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
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