AUDUSD - the pair is about to leave the range of flat
February 4, 2019 6:42:58 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.726)
-45 p
0.7275
Stop Loss
0.7230
Entry
+40 p
0.7190
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
- 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 Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- MVP line is above the price and acts as a resistance level.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.