AUDUSD - Upward trend will continue, Long trade by market price recommended
July 9, 2020 7:42:43 PM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.6955)
+55 p
0.7010
Target 1
0.6955
Entry
-55 p
0.6900
Stop Loss
About Author
Alexander Zorevyk
Expert
Related Links
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Total votes: 9
Buy or Sell
Chart & Analyst Comments
- Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The idea of this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
- 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.
