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

June 17, 2022 8:57:16 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6925)
8:57
8:57
Jun. 17, 2022
-65 p
0.7060
Stop Loss
0.6995
Entry
+70 p
0.6925
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  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 only Short trades at this time.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. MVP line is above the price and acts as a resistance level.
  5. Set Take Profit at the local low, beyond which there is a cluster of orders.
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