AUDUSD - Downward trend will continue, Short trade by market price recommended
February 3, 2020 7:14:05 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.67)
-120 p
0.6820
Stop Loss
0.6700
Entry
+130 p
0.6570
Target 1
About Author
Patrick Yang
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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- 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.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.