AUDUSD - Downward trend will continue, Short trade by market price recommended
September 27, 2021 8:33:13 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.7265)
-65 p
0.7330
Stop Loss
0.7265
Entry
+65 p
0.7200
Target 1
+90 p
0.7175
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- 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
