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

October 2, 2019 6:27:01 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.671)
6:25
6:25
Oct. 2, 2019

-70 p
0.6780
Stop Loss
0.6710
Entry
+65 p
0.6645
Target 1
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 Ratios indicator demonstrates a market shift towards buyers. Their increase while the upward movement may indicate a successfully triggered trap. Possible price downward reversal.
  3. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. We are focused on the breakdown of the previous bottom, the target at the level of 0.6645.