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

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

-65 p
Stop Loss
+60 p
Target 1
+85 p
Target 2
Chart & Analyst Comments
  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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