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

September 24, 2019 6:07:08 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.678)
6:05
6:05
Sep. 24, 2019

-55 p
0.6835
Stop Loss
0.6780
Entry
+50 p
0.6730
Target 1
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell AUDUSD.
  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. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.