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)
-54 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: 11
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Chart & Analyst Comments
- The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
- The Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
- The activity of "fresh" buyers in a 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 trading idea.
- MVP line is above the price and acts as a resistance level.