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

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

+80 p
0.6630
Target 2
+55 p
0.6605
Target 1
0.6550
Entry
-60 p
0.6490
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. 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
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