- According to the most brokers’ data, more than half of the traders are currently in short positions on AUDUSD. As a result, we recommend considering only Long trades at this time.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
- The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.
Chart & Analyst Comments
