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

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

-75 p
0.6985
Stop Loss
0.6910
Entry
+70 p
0.6840
Target 1
+110 p
0.6800
Target 2
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. 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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