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

October 2, 2020 8:05:43 AM by Alex Zarevich
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.7175)
8:02
8:02
Oct. 2, 2020

+85 p
0.7240
Target 2
+55 p
0.7210
Target 1
0.7155
Entry
-65 p
0.7090
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  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 - 0.721, and the second one, in case of an active price increase, is at the level - 0.724
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