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

September 5, 2022 6:55:11 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6720)
6:55
6:55
Sep. 5, 2022

-75 p
0.6870
Stop Loss
0.6795
Entry
+75 p
0.6720
Target 1
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. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. The risk-to-profit ratio allows us to set Take Profit for a Short trade at 0.672
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