AUDUSD - Upward trend will continue, Long trade by market price recommended
May 25, 2020 7:11:52 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.659)
+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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Chart & Analyst Comments
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
- We see an accumulation of loss sellers below the current price in the right Order Book. This cluster can act as a support.
- We should set the target of our trade at the closest level with a large number of Stop orders, as signaled by the SLC indicator.
