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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairAUDUSD
Publication Time7/29/24 7:35 AM
Direction Sell
Status Closed (0.6500)
7:35
7:35
Jul. 29, 2024
Forecast
-30 p
0.6575
Stop Loss
0.6545
Entry
+25 p
0.6520
Target 1
+45 p
0.6500
Target 2
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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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. Set Take profit at the local price minimum.
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