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Intraday forecastAustralian Dollar vs. US Dollar technical chart
SymbolAUDUSD
Release TimeThu, 08/09/2018 - 19:49
Advisesell (limit) below R1=0.74
Intraday
Short term
Yesterday range56
Yesterday high0.7439
Yesterday low0.7383
Yesterday close0.7432
R30.7475
R20.741
R10.74
S10.735
S20.733
S30.73
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.74.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.735.
TP4: S2=0.733.
Set the stoploss of these orders at breakout of R2=0.741.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.741.
In this situation, there is an expectation to reach the target R3=0.7475.
Set the stoploss of reverse orders at breakout of R1=0.74.

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