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

December 19, 2022 1:16:56 PM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6655)
13:16
13:16
Dec. 19, 2022

-60 p
0.6770
Stop Loss
0.6710
Entry
+55 p
0.6655
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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. MVP line is above the price and acts as a resistance level.
  5. Set Take profit at the local price minimum.
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