AUDUSD - Downward trend will continue, Short trade by market price recommended
August 2, 2019 6:38:24 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.6755)
-55 p
0.6865
Stop Loss
0.6810
Entry
+55 p
0.6755
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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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.
- 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.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
- MVP line is above the price and acts as a resistance level.
