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

June 24, 2022 6:33:29 AM by Alex Zarevich
Forecast Details
Direction Sell
StatusClosed (0.6950)
Jun. 24, 2022

-75 p
Stop Loss
+70 p
Target 1
+110 p
Target 2
Chart & Analyst Comments
  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  5. The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
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