AUDUSD - Downward trend will continue, Short trade by market price recommended
January 29, 2020 7:14:01 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.6725)
-50 p
0.6815
Stop Loss
0.6765
Entry
+50 p
0.6715
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- MVP line is above the price and acts as a resistance level.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.