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 expect the downward trend to continue. Sell AUDUSD. See below for summary of analysis:

  1. The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for 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 on which we set our first and second targets.
  4. The present level of MVP, which is above the current price, favors sell orders.