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

September 30, 2019 11:07:42 AM by Patrick Yang
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.673)
Start
End
Sep. 30, 2019
Oct. 7, 2019

-124 p
0.6880
Stop Loss
0.6755
Entry
+120 p
0.6635
Target 1
Chart & Analyst Comments
AUDUSD - Downward trend will continue, Short trade by market price recommended
  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. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  4. MVP line is above the price and acts as a resistance level.
  5. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.