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

November 24, 2020 7:21:59 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Buy
StatusClosed (0.73)
7:20
7:20
Nov. 24, 2020

+70 p
0.7370
Target 2
+50 p
0.7350
Target 1
0.7300
Entry
-50 p
0.7250
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. The present level of MVP, which is below the current price, favors Buy Orders.
  4. The first target is at the level of the previous peak - 0.735, and the second one, in case of an active price increase, is at the level - 0.737