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

June 29, 2020 5:54:06 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.6875)
5:49
5:49
Jun. 29, 2020

+94 p
0.6970
Target 2
+54 p
0.6930
Target 1
0.6875
Entry
-60 p
0.6815
Stop Loss
Chart & Analyst Comments
AUDUSD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 0.6875. 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. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The first target is at the level of the previous peak - 0.693, and the second one, in case of an active price increase, is at the level - 0.697