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

February 24, 2020 6:06:03 PM by Patrick Yang
Forecast Details
Direction Sell
StatusClosed (0.6500)
Feb. 24, 2020
Mar. 2, 2020

-115 p
Stop Loss
+115 p
Target 1
Chart & Analyst Comments
  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 activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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