AUDUSD Forex Trading Market Analysis
AUDUSD
22-10-2020 /6:22:49
Long around 0.7050, Take profit: 0.7190, Stop loss: 0.7020
Chinese economic recovery will be more durable (Short).
On 21st October, AUDUSD increased by 0.98% to 0.7117 as the recent date suggested that Chinese economic recovery would be more durable.
Long
Time Frame:1D
On the chart of the day, AUDUSD stopped the loss and rebounded.Bit it was still moving below the descending trend line.Investors should focus on whether it will continue rebounding.Investors could buy as it reverses.
Time Frame:4H
On the 4-hour chart, AUDUSD bottomed out and then increased with potential support at 0.7050.If it is steady above 0.7050.It may reverse at the bottom.
AUDUSD
21-10-2020 / 6:29:00
Short around 0.7110, Take profit: 0.7000，Stop loss: 0.7130
The Australian dollar was suppressed by two factors (Short).
AUDUSD hit a 3-and-a-half low to 0.7021 on 20th October.Affected by global trade conflict and the expectation that RBA will take loose monetary policies.
Short
Time Frame:1D
On the chart of the day, AUDUSD continued falling and was moving below the descending trend line.The market trend was bearish.It is expected to resume reversing.Investors could sell as it rebounds.
Time Frame:4H
On the 4-hour chart, AUDUSD fluctuated and decreased with potential support at 0.700.It will start falling.If it breaks through 0.700.It is expected to maintain the bearish market trend.
Due to passage of time and market volatility some of the above patterns observed may no longer be valid.
Disclaimer:
This material is considered communication for information purposes only and does not constitute investment advice/investment recommendation or, an offer of or solicitation for any transactions in CFDs or any other financial instrument.
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