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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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 Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can 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 Stop Loss for our Sell trade at the level with the lowest amount of stop losses of other market participants.