The market has stabilized, the first signs of a downtrend appeared

22. März 2019 08:30:00 by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Verkauf
StatusClosed (0.7079)
6:16
6:00
22.03.2019

-40 p
0.7130
Stop Loss
0.7090
Entry
+34 p
0.7055
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
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Consider selling AUDUSD today while the present trend is still in its active phase. Open a sell order at the current market price, since corrections are unlikely. See below for further explanation:

  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 going only short at this time.
  2. Analyzing the ratio of positions, we see that the majority of traders at the moment are in purchases, which is also combined with the original idea.
  3. MVP line is above the price and acts as a resistance level.
  4. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  5. This movement is focused on the breakdown of the previous support, the target at the level of 0.7055.