AUDUSD - Downward trend will continue, Short trade by market price recommended
November 14, 2019 7:17:42 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.678)
-50 p
0.6850
Stop Loss
0.6800
Entry
+60 p
0.6740
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell AUDUSD.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- 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.
- MVP line is above the price and acts as a resistance level.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
