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

October 2, 2020 8:05:43 AM by Alexander Zorevyk
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
AUDUSD - Upward trend will continue, Long trade by market price recommended
  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