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