AUDUSD - Downward trend will continue, Short trade by market price recommended
August 5, 2019 12:26:53 PM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.6745)
-114 p
0.6880
Stop Loss
0.6765
Entry
+120 p
0.6645
Target 1
About Author
Patrick Yang
Expert
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Total votes: 16
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Chart & Analyst Comments
- The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
- The dynamics of the Ratios indicator signals possible sells. Pay attention to the area marked on the image.
- The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
- MVP line is above the price and acts as a resistance level.
- Stop loss is properly taken out of the buyers cluster. If the price passes it, it is very likely to go on.