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

May 2, 2019 6:11:58 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.699)
6:06
6:06
May 2, 2019

-40 p
0.7060
Stop Loss
0.7020
Entry
+30 p
0.6990
Target 1
+50 p
0.6970
Target 2
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratios indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.