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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairAUDUSD
Publication Time12/5/24 7:58 AM
Direction Sell
Status Closed (0.6425)
7:58
7:58
Dec. 5, 2024
Forecast
-45 p
0.6490
Stop Loss
0.6445
Entry
+45 p
0.6400
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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. MVP line is above the price and acts as a resistance level.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. Set Take Profit at the local low, beyond which there is a cluster of orders.
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