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

Patrick Yang on FXSSI Patrick Yang Expert
main-sell-market-trend-1
Forecast Details
PairAUDUSD
Publication Time2/3/20 7:14 AM
Direction Sell
Status Closed (0.6700)
Feb. 3, 2020
Feb. 10, 2020
Forecast
-120 p
0.6820
Stop Loss
0.6700
Entry
+130 p
0.6570
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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 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. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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