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

May 23, 2019 6:14:41 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6891)
6:04
6:04
May 23, 2019

-45 p
0.6925
Stop Loss
0.6880
Entry
+49 p
0.6830
Target 1
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended

Falling prices are accompanied by minor pullbacks with the formation of resistance at their respective peaks.

  1. The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. The decrease in the volume of sellers, together with the increase in the volume of buyers, confirms the need to sell according to our trading idea.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.