AUDUSD - Downward trend will continue, Short trade by market price recommended
February 11, 2019 9:01:58 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.705)
-50 p
0.7145
Stop Loss
0.7095
Entry
+45 p
0.7050
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 Current Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- We are setting our stop loss at the level where there are not many of our market competitors stop losses.