The market has stabilized, the first signs of a downtrend appeared

March 22, 2019 8:30:00 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.7079)
6:16
6:00
Mar. 22, 2019

-40 p
0.7130
Stop Loss
0.7090
Entry
+35 p
0.7055
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared

Only Short trades is in play today for AUDUSD. Considering the trend is in its active phase, your Sell Order(s) should be opened at the market price since the corrections are unlikely. Check out the picture above for further explanation:

  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. Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
  3. MVP line is above the price and acts as a resistance level.
  4. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  5. We are focused on the breakdown of the previous bottom, the target at the level of 0.7055.