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

January 13, 2021 7:41:24 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.7770)
7:31
7:31
Jan. 13, 2021

+105 p
0.7875
Target 2
+60 p
0.7830
Target 1
0.7770
Entry
-70 p
0.7700
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. MVP line is below the price and acts as a support level.
  4. 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.
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