AUDUSD - Upward trend will continue, Long trade by market price recommended
May 21, 2020 6:56:47 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.6525)
+80 p
0.6630
Target 2
+55 p
0.6605
Target 1
0.6550
Entry
-60 p
0.6490
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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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.
- MVP line is below the price and acts as a support level.
- 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
