AUDUSD 7 MONTHS MARKET CONDITIONS AND PHASES WALKTHROUGH 1

25 ott 2020

March 2020 saw the beginning of an uptrend in the market, coming from 0.5500 area. We see a short distribution, a brief decline, a short accumulation before an uptrend which I may consider a continuation of March 2020 uptrend. A continuation makes sense if the brevity of distribution, decline and accumulation is taken into consideration. If the decline phase was meant to be a major one, we should expect price to decline to the root area of the preceding uptrend. A swing to the left equals a swing to the right. Action=Reaction. Price always corrects itself.