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

January 29, 2020 7:14:01 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6725)
7:05
7:05
Jan. 29, 2020

-50 p
0.6815
Stop Loss
0.6765
Entry
+50 p
0.6715
Target 1
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  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. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.