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: 7
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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 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 indicator is not responding to a downward movement, this means that the movement is valid.
- In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.