AUDUSD - Upward trend will continue, Long trade by market price recommended
October 8, 2020 9:12:11 PM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.724)
+80 p
0.7240
Target 2
+50 p
0.7210
Target 1
0.7160
Entry
-70 p
0.7090
Stop Loss
About Author
Alexander Zorevyk
Expert
Related Links
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Total votes: 6
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
- 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.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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.
