The market has stabilized, the first signs of an uptrend appeared
October 12, 2020 8:28:08 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.7155)
+130 p
0.7330
Target 2
+95 p
0.7295
Target 1
0.7200
Entry
-75 p
0.7125
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 7
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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.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.
