ADAUSD Long-term Trend: Ranging
Distribution territories: $0.190, $0.200, $0.300.
Accumulation territories: $0.130, $0.120, $0.100.
ADAUSD pair is ranging within the price level $0.190 and $0.1300 with no clear sign of breakout to the upward trend or breakdown to the downward trend for few weeks now. It is currently trading in a ranging outlook for a couple of weeks. Ever since price closed below the moving average 50, it has continued to range within the price levels. The Stochastic oscillator is within the 0-50 level for some weeks. No definite direction has yet been established.
The exponential moving averages 26 and 5 lie below the exponential moving average 50 and price has well been ranging within these three moving averages. With these analytical indicators, a ranging movement is still in place. Traders are advised to be watchful and be patient before taking any trade. A break above price at 0.2500 will confirm resumption of the uptrend and a break below 0.1500 and retest would signify the commencement of downward trend.
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