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 critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  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. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.