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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairAUDUSD
Publication Time9/7/23 4:09 PM
Direction Sell
Status Closed (0.6430)
16:09
16:09
Sep. 7, 2023
Forecast
-50 p
0.6430
Stop Loss
0.6380
Entry
+50 p
0.6330
Target 1
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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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.
  5. Set Take Profit at the local low, beyond which there is a cluster of orders.
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