AUDUSD - Upward trend will continue, Long trade by market price recommended
June 9, 2021 8:03:28 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.7765)
+65 p
0.7810
Target 1
0.7745
Entry
-60 p
0.7685
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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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 number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- 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.
