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

February 3, 2020 7:14:05 AM by Patrick Yang
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.67)
Start
End
Feb. 3, 2020
Feb. 10, 2020

-120 p
0.6820
Stop Loss
0.6700
Entry
+130 p
0.6570
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 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.