The market has stabilized, the first signs of an uptrend appeared

December 2, 2020 9:19:36 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.742)
9:16
9:16
Dec. 2, 2020

+65 p
0.7420
Target 2
+50 p
0.7405
Target 1
0.7355
Entry
-55 p
0.7300
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. There is an increase in Buy Orders when the price attempts to move up. We expect a downward movement to eliminate the accumulated buyers. We recommend to set Buy Limit at 0.7355
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 0.7405, and the second one, in case of an active price increase, is at the level - 0.742