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

May 13, 2019 10:17:16 AM by Patrick Yang
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6900)
Start
End
May 13, 2019
May 20, 2019
-75 p
0.7060
Stop Loss
0.6985
Entry
+85 p
0.6900
Target 1
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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
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