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

August 31, 2022 6:12:10 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6795)
6:12
6:12
Aug. 31, 2022

-80 p
0.6975
Stop Loss
0.6895
Entry
+70 p
0.6825
Target 1
+100 p
0.6795
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. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. MVP line is above the price and acts as a resistance level.
  5. After a slight upward price movement, profitable buyers actively begin to take profits, returning the price to its original position.
  6. The first target is at the level of the previous bottom - 0.6825, and the second one, in case of an active price decrease, is at the level - 0.6795
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