AUDUSD - Downward trend will continue, Short trade by market price recommended
April 7, 2021 3:12:49 PM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.764)
-70 p
0.7710
Stop Loss
0.7640
Entry
+80 p
0.7560
Target 1
+110 p
0.7530
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 10
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- 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
