AUDUSD - Upward trend will continue, Long trade by market price recommended
November 18, 2020 6:19:50 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.729)
+90 p
0.7380
Target 2
+60 p
0.7350
Target 1
0.7290
Entry
-60 p
0.7230
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 9
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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.
- The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- The present level of MVP, which is below the current price, favors Buy Orders.
- The first target is at the level of the previous peak - 0.735, and the second one, in case of an active price increase, is at the level - 0.738
