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

January 24, 2020 8:04:37 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6795)
7:52
7:52
Jan. 24, 2020

-55 p
0.6900
Stop Loss
0.6845
Entry
+50 p
0.6795
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 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.
  4. The present level of MVP, which is above the current price, favors Sell Orders.
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.