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

June 17, 2020 3:20:57 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.6850)
Jun. 17, 2020

+100 p
Target 2
+75 p
Target 1
-80 p
Stop Loss
Chart & Analyst Comments

For today's forecast, we recommend a Buy Order at this recommended market price - 0.69. This idea is based on the following analysis:

  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. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  4. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 0.6975
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