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

October 22, 2019 2:00:56 PM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6830)
13:56
13:56
Oct. 22, 2019
+55 p
0.6915
Target 1
0.6860
Entry
-60 p
0.6800
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  2. We see a sharp increase in sell orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting an upward movement.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
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