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

October 17, 2022 6:28:19 AM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6320)
6:28
6:28
Oct. 17, 2022

-80 p
0.6320
Stop Loss
0.6240
Entry
+85 p
0.6155
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 see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. After a slight upward price movement, profitable buyers actively begin to take profits, returning the price to its original position.
  5. The risk-to-profit ratio allows us to set stop loss for the Sell trade at 0.6155
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