AUDUSD - Upward trend will continue, Long trade by market price recommended
January 13, 2021 7:41:24 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.777)
+105 p
0.7875
Target 2
+60 p
0.7830
Target 1
0.7770
Entry
-70 p
0.7700
Stop Loss
About Author
Alexander Zorevyk
Expert
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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.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
