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

March 6, 2019 8:29:43 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.706)
6:17
6:00
Mar. 6, 2019

-40 p
0.7100
Stop Loss
0.7060
Entry
+44 p
0.7015
Target 1
+64 p
0.6995
Target 2
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the Current Ratio indicator, the market crowd inclined to believe in an upward movement. We recommend Short trade for today.
  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. Price broke through the MVP line and rushed down. We consider this a sign for further AUDUSD price decrease.
  5. The price moved higher into the accumulation of buyers and formed an descending trampoline. The target of the trade is set at 0.7015, which corresponds to the low point of the buyers' accumulation.