AUDUSD - Downward trend will continue, Short trade by market price recommended
May 3, 2021 10:21:35 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.7713)
-75 p
0.7800
Stop Loss
0.7725
Entry
+70 p
0.7655
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 12
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- 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.
