The market has stabilized, the first signs of an uptrend appeared
June 7, 2021 7:18:18 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.771)
+95 p
0.7805
Target 2
+65 p
0.7775
Target 1
0.7710
Entry
-70 p
0.7640
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- 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.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- Price broke through the MVP line and rushed up. We consider this a sign for further AUDUSD price increase.
- The first target is at the level of the previous peak - 0.7775, and the second one, in case of an active price increase, is at the level - 0.7805
