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

April 30, 2019 6:00:26 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.7051)
5:55
6:00
Apr. 30, 2019

-40 p
0.7080
Stop Loss
0.7040
Entry
+34 p
0.7005
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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.