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

November 12, 2020 9:43:06 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.729)
9:40
9:40
Nov. 12, 2020

+85 p
0.7350
Target 2
+55 p
0.7320
Target 1
0.7265
Entry
-65 p
0.7200
Stop Loss
Chart & Analyst Comments
AUDUSD - Upward trend will continue, Long trade by market price recommended
  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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.
  5. The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.