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

October 8, 2020 9:12:11 PM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.724)
21:09
21:09
Oct. 8, 2020

+80 p
0.7240
Target 2
+50 p
0.7210
Target 1
0.7160
Entry
-70 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 increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  3. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  4. The rise in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the upward movement.