The market has stabilized, the first signs of a downtrend appeared

August 13, 2019 6:27:28 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6795)
6:25
6:25
Aug. 13, 2019

-50 p
0.6795
Stop Loss
0.6745
Entry
+45 p
0.6700
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.