AUDUSD - Downward trend will continue, Short trade by market price recommended
May 9, 2019 5:30:19 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.6989)
-45 p
0.7020
Stop Loss
0.6975
Entry
+50 p
0.6925
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 8
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
