AUDUSD - Upward trend will continue, Long trade by market price recommended

May 8, 2020 12:02:36 PM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6455)
12:01
12:01
May 8, 2020

+85 p
0.6600
Target 2
+55 p
0.6570
Target 1
0.6515
Entry
-60 p
0.6455
Stop Loss
Chart & Analyst Comments
AUDUSD - Upward trend will continue, Long trade by market price recommended
  1. 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.
  2. The Ratios indicator demonstrates a market shift towards sellers. Their increase while the downward movement may indicate a successfully triggered trap. Possible price upward reversal.
  3. MVP line is below the price and acts as a support level.
  4. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.