AUDUSD - Downward trend will continue, Short trade by market price recommended
May 13, 2019 10:17:16 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.69)
-74 p
0.7060
Stop Loss
0.6985
Entry
+85 p
0.6900
Target 1
About Author
Patrick Yang
Expert
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Total votes: 9
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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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
