AUDUSD - Upward trend will continue, Long trade by market price recommended
October 22, 2019 2:00:56 PM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.683)
+54 p
0.6915
Target 1
0.6860
Entry
-60 p
0.6800
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- 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.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.