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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 (0.6730)
Start
End
Sep. 30, 2019
Oct. 7, 2019

-125 p
0.6880
Stop Loss
0.6755
Entry
+120 p
0.6635
Target 1
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. 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.
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