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

March 4, 2020 6:36:38 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6630)
6:30
6:30
Mar. 4, 2020

-50 p
0.6645
Stop Loss
0.6595
Entry
+45 p
0.6550
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. The present level of MVP, which is above the current price, favors Sell Orders.
  4. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.
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