AUDUSD - Upward trend will continue, Long trade by market price recommended
May 8, 2020 12:02:36 PM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.6455)
+85 p
0.6600
Target 2
+55 p
0.6570
Target 1
0.6515
Entry
-60 p
0.6455
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 9
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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.
- 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.
- MVP line is below the price and acts as a support level.
- 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.
