AUDUSD - Downward trend will continue, Short trade by market price recommended
February 18, 2020 8:47:21 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.664)
-45 p
0.6730
Stop Loss
0.6685
Entry
+44 p
0.6640
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.