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

November 18, 2020 6:19:50 AM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.7290)
6:15
6:15
Nov. 18, 2020

+90 p
0.7380
Target 2
+60 p
0.7350
Target 1
0.7290
Entry
-60 p
0.7230
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. 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.
  3. The present level of MVP, which is below the current price, favors Buy Orders.
  4. 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
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