AUDUSD - Downward trend will continue, Short trade by market price recommended
February 10, 2020 7:29:58 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.6725)
-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 dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
- MVP line is above the price and acts as a resistance level.
- These sellers' stop loss will most likely be triggered before the downward movement. From this level you should Sell. In our case, we have set a Sell Limit order.