There is a possibility for the beginning of an uptrend in AUDSGDMidterm forecast:
While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9520 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A trough is formed in daily chart at 0.9270 on 10/24/2019, so more gains to resistance(s) 0.9400, 0.9455 and maximum to Major Resistance (0.9520) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 54.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.93200 to 0.92700). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.93200)
Ending of entry zone (0.92700)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 0.94000
TP2= @ 0.94550
TP3= @ 0.95200
TP4= @ 0.95950
TP5= @ 0.97250
TP6= @ 0.98300
TP7= @ 1.00900
TP8= @ 1.02250
TP9= Free
