For Traders

Analytical Reviews

Technical analysis

20.11.202005:00 Forex Analysis & Reviews: Forecast for AUD/USD on November 20, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD

The Australian dollar made an attempt to attack the daily MACD line yesterday. It failed, but the day closed with a more pronounced black candlestick than other counter-dollar currencies. Divergence with Marlin persists on the daily chart. Getting the price to settle below 0.7262 will make it possible for the aussie to attack the 0.7222 level, which opens the way to 0.7120. The probability of growth is 10-15%.

The four-hour chart shows that the price has settled under the MACD line, but the price lacks speed to settle under the balance line, which is what buyers have used in the current situation. The signal line of the Marlin oscillator moves horizontally along the border where trends separate, with the greatest probability the line will turn to the downside from the border. We are waiting for the price to settle below the 0.7262 level and build up the bears' forces.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.