AUDUSD - Upward trend will continue, Long trade by market price recommended
May 19, 2020 6:19:58 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.6565)
+74 p
0.6595
Target 2
+44 p
0.6565
Target 1
0.6520
Entry
-50 p
0.6470
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 15
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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 activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- MVP line is below the price and acts as a support level.
- Set Take Profit at the local high, beyond which there is a cluster of orders.
