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

July 12, 2022 8:21:46 AM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6785)
8:21
8:21
Jul. 12, 2022

-70 p
0.6785
Stop Loss
0.6715
Entry
+65 p
0.6650
Target 1
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. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
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