AU200 Bias Turns Bullish | IFCM
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AU200 Bias Turns Bullish

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The AU200 price forecast in our March 27, 2020 technical analysis was bearish.

New data after AU200,H4 March 27, 2020 technical analysis indicate bullish bias now.

  • AU200 closed up 7% at 5181.4 on March 30.
  • Australia announced a moratorium on evictions of people from their rentals in the next six months.
  • Government said an additional A$1.1 billion ($680 million) will be spent on health and law services besides earlier measures which equaled to about 10% of Australia’s annual gross domestic product.

Here is what indicators show as of March 30, 2020:

  • The Donchian Channel gives a neutral signal.
  • The MA(50) Indicator gives a bullish signal.
  • The Parabolic indicator gives a bearish signal.
  • The Fractals give a neutral signal.
  • The MACD indicator gives a bullish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fibonacci indicator gives a bullish signal.

So the forecast is bullish for the AU200, H4.

OrderBUY
Buy stop Above 5321.32
Stop lossBelow 4787.18

Reuters

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