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

September 27, 2021 8:33:13 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.7265)
8:31
8:31
Sep. 27, 2021

-65 p
0.7330
Stop Loss
0.7265
Entry
+65 p
0.7200
Target 1
+90 p
0.7175
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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.72, and the second one, in case of an active price decrease, is at the level - 0.7175
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