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

June 11, 2019 5:16:51 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.695)
5:10
5:10
Jun. 11, 2019

-60 p
0.7015
Stop Loss
0.6955
Entry
+60 p
0.6895
Target 1
+90 p
0.6865
Target 2
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended

For today's forecast, we recommend a sell order at the current market price. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in long positions on AUDUSD. As a result, we recommend considering going only short at this time.
  2. Analyzing the ratio of positions, we see that the majority of traders at the moment are in purchases, which is also combined with the original idea.
  3. The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.