The market has stabilized, the first signs of a downtrend appeared

August 9, 2019 5:17:16 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.684)
4:58
4:58
Aug. 9, 2019

-69 p
0.6910
Stop Loss
0.6840
Entry
+70 p
0.6770
Target 1
+110 p
0.6730
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

We are expecting downward trend to continue for AUDUSD currency pair. Short trades only. See below for the summary of analysis:

  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. We see two clusters of stop losses below the price on which we set our first and second targets according to our forecast.
  4. The present level of MVP, which is above the current price, favors Sell Orders.