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

May 21, 2020 6:56:47 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6525)
6:53
6:53
May 21, 2020

+80 p
0.6630
Target 2
+54 p
0.6605
Target 1
0.6550
Entry
-60 p
0.6490
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. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.6605, and the second one, in case of an active price increase, is at the level - 0.663