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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeJanuary 16, 2008 - 22:23
Advisesell (limit) below R1=0.8816
Intraday
Short term
Yesterday range
Yesterday high
Yesterday low
Yesterday close
R30.9005
R20.8865
R10.8816
S10.8718
S20.8669
S30.8529
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.8816.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.8718.
TP4: S2=0.8669.
Set the stoploss of these orders at breakout of R2=0.8865.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.8865.
In this situation, there is an expectation to reach the target R3=0.9005.
Set the stoploss of reverse orders at breakout of R1=0.8816.

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