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

May 19, 2020 6:19:58 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6565)
6:16
6:16
May 19, 2020

+75 p
0.6595
Target 2
+45 p
0.6565
Target 1
0.6520
Entry
-50 p
0.6470
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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. Set Take Profit at the local high, beyond which there is a cluster of orders.
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