AUDUSD - Upward trend will continue, Long trade by market price recommended
September 10, 2020 7:33:48 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.732)
+65 p
0.7335
Target 2
+50 p
0.7320
Target 1
0.7270
Entry
-50 p
0.7220
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 10
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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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 0.732, and the second one, in case of an active price increase, is at the level - 0.7335
