AUDUSD - Downward trend will continue, Short trade by market price recommended
November 18, 2019 8:48:52 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.678)
-110 p
0.6925
Stop Loss
0.6815
Entry
+120 p
0.6695
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
We are expecting downward trend to continue for AUDUSD currency pair. Short trades only. See below for the summary of analysis:
- 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 Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- 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.
