AUDUSD - Upward trend will continue, Long trade by market price recommended
August 4, 2020 2:11:38 PM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.719)
+90 p
0.7220
Target 2
+60 p
0.7190
Target 1
0.7130
Entry
-70 p
0.7060
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 10
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on AUDUSD. As a result, we recommend considering only Long trades at this time.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.
