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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 (0.7640)
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
main-sell-market-trend-1
  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
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