AUDUSD - Upward trend will continue, Long trade by market price recommended
February 11, 2021 9:44:43 AM
Forecast Details
PairAUDUSD
Direction
Buy
StatusClosed (0.774)
+75 p
0.7815
Target 2
+50 p
0.7790
Target 1
0.7740
Entry
-55 p
0.7685
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- 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.
- MVP line is below the price and acts as a support level.
- 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.
