Baxia Markets News

AUDUSD may spike again

Written by Baxia Markets | Jul 23, 2021 7:00:00 PM

 

The price of AUDUSD has been falling for 52 days. During these 52 days, the price has dropped by 7%, which was a crush; This is the longest trend since the beginning of the year 2021. During the trend, we can see that the price has tested the bottom Bollinger Bands three times; however, the first two did not create strong support. Now, we have the third one coming; and as can be seen, the price has already started to bounce up. 

 

 

 

How far will the upward trend go? The price has just started to go up, so it has not even touched the 23.6% level Fibonacci, which means it still has room to go. We cannot see things from standard deviation because the price already passed the support point, so the standard deviation started to go down. MACD still shows the bearish signal; however, the signal is not significant. The bear's power goes up, but still in a negative area. I know we do not have enough signals for now. Let’s wait to see if the price touches the 23.6% level Fibonacci.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.