AUDUSD - Upward trend will continue, Long trade by market price recommended
July 13, 2020 9:43:50 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.696)
+70 p
0.7030
Target 2
+50 p
0.7010
Target 1
0.6960
Entry
-60 p
0.6900
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 8
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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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- 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
