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

July 13, 2020 9:43:50 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.696)
9:42
9:42
Jul. 13, 2020

+70 p
0.7030
Target 2
+50 p
0.7010
Target 1
0.6960
Entry
-60 p
0.6900
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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.701, and the second one, in case of an active price increase, is at the level - 0.703