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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 (0.6960)
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
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. 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
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