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

June 7, 2021 7:18:18 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.771)
7:15
7:15
Jun. 7, 2021

+95 p
0.7805
Target 2
+65 p
0.7775
Target 1
0.7710
Entry
-70 p
0.7640
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. 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.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. Price broke through the MVP line and rushed up. We consider this a sign for further AUDUSD price increase.
  5. 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