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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-buy-market-trend-1
Forecast Details
PairXAUUSD
Publication Time6/6/24 6:54 AM
Direction Buy
Status Closed (2,375.0)
6:54
6:54
Jun. 6, 2024
Forecast
+380 p
2,405.0
Target 1
2,367.0
Entry
-380 p
2,329.0
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on XAUUSD. As a result, we recommend considering only Long trades at this time.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. Price broke through the MVP line and rushed up. We consider this a sign for further XAUUSD price increase.
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