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

July 9, 2020 7:42:43 PM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6955)
19:36
19:36
Jul. 9, 2020

+55 p
0.7010
Target 1
0.6955
Entry
-55 p
0.6900
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The idea of ​​this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  5. The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.
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