The market has stabilized, the first signs of an uptrend appeared

May 20, 2020 9:22:29 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.65)
9:20
9:20
May 20, 2020

+80 p
0.6580
Target 2
+54 p
0.6555
Target 1
0.6500
Entry
-60 p
0.6440
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. 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.
  4. We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
  5. The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.