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

May 3, 2021 10:21:35 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.7713)
10:19
10:19
May 3, 2021
-75 p
0.7800
Stop Loss
0.7725
Entry
+70 p
0.7655
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
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