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)
-44 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: 16
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Chart & Analyst Comments
- The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
- The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
- The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
- In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.