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

September 21, 2022 8:27:11 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6600)
8:27
8:27
Sep. 21, 2022

-70 p
0.6740
Stop Loss
0.6670
Entry
+70 p
0.6600
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. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.
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