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 (0.69)
Start
End
May 13, 2019
May 20, 2019

-74 p
0.7060
Stop Loss
0.6985
Entry
+85 p
0.6900
Target 1
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling 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 indicator is not responding to a downward movement, this means that the movement is valid.
  4. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.