AUDUSD - Downward trend will continue, Short trade by market price recommended

January 21, 2020 7:41:32 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.684)
7:35
7:35
Jan. 21, 2020

-44 p
0.6900
Stop Loss
0.6855
Entry
+40 p
0.6815
Target 1
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on AUDUSD. As a result, we recommend considering only Short trades at this time.
  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. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  4. MVP line is above the price and acts as a resistance level.
  5. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.