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

April 7, 2021 3:12:49 PM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.764)
15:11
15:11
Apr. 7, 2021

-70 p
0.7710
Stop Loss
0.7640
Entry
+80 p
0.7560
Target 1
+110 p
0.7530
Target 2
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. The first target is at the level of the previous bottom - 0.756, and the second one, in case of an active price decrease, is at the level - 0.753