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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
main-buy-market-trend-1
  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.
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