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

April 15, 2019 8:40:00 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.721)
6:06
6:00
Apr. 15, 2019

+45 p
0.7215
Target 1
0.7170
Entry
-50 p
0.7120
Stop Loss
Chart & Analyst Comments
AUDUSD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 0.717. This idea is based on the following analysis:

  1. For a while now, the Current Ratio indicator provides an opportunity for Long trade. We are using this signal as a basis for today’s trading forecast.
  2. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.
  5. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.