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

June 22, 2020 6:28:41 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (0.6930)
Jun. 22, 2020

+115 p
Target 2
+75 p
Target 1
-75 p
Stop Loss
Chart & Analyst Comments

For today's forecast, we recommend a Buy Order at this recommended market price - 0.6855. This idea is based on the following analysis:

  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 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.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
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