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

March 31, 2020 7:39:14 PM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.6060)
19:33
19:33
Mar. 31, 2020

-90 p
0.6220
Stop Loss
0.6130
Entry
+100 p
0.6030
Target 1
+150 p
0.5980
Target 2
Chart & Analyst Comments
main-sell-market-trend-1

For today's forecast, we recommend a Sell Order at this recommended market price - 0.613. This idea is based on the following analysis:

  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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.
    index: 1x 0.033449172973633s
t_/pages/forecast: 1x 0.03068995475769s
t_/common/header-new: 1x 0.019607067108154s
t_/common/head: 1x 0.016139030456543s
t_/common/footer-new: 1x 0.0025389194488525s
router_page: 1x 0.0015289783477783s
router: 1x 0.00069689750671387s
t_/popups/on-download: 1x 0.00049996376037598s
service-routes: 1x 0.00027894973754883s
router_redirection: 1x 0.00013494491577148s
t_/popups/zoom: 1x 1.4066696166992E-5s
----- END OF DUMP (2022-12-09 13:13:12)  -----