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

July 6, 2022 10:54:27 AM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6860)
10:54
10:54
Jul. 6, 2022

-65 p
0.6865
Stop Loss
0.6800
Entry
+60 p
0.6740
Target 1
+85 p
0.6715
Target 2
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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The first target is at the level of the previous bottom - 0.674, and the second one, in case of an active price decrease, is at the level - 0.6715
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