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

November 28, 2019 7:41:26 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.677)
7:34
7:34
Nov. 28, 2019

-60 p
0.6830
Stop Loss
0.6770
Entry
+60 p
0.6710
Target 1
+80 p
0.6690
Target 2
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  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. MVP line is above the price and acts as a resistance level.
  5. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.