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Intraday forecastAustralian Dollar vs. US Dollar technical chart
SymbolAUDUSD
Release TimeTue, 01/08/2019 - 20:10
Advisebuy (limit) above S1=0.71
Intraday
Short term
Yesterday range40
Yesterday high0.7149
Yesterday low0.7109
Yesterday close0.7146
R30.724
R20.72
R10.7165
S10.71
S20.7075
S30.699
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.71.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.7165.
TP4: R2=0.72.
Set the stoploss of these orders at breakout of S2=0.7075.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.7075.
In this situation, there is an expectation to reach the target S3=0.699.
Set the stoploss of reverse orders at breakout of S1=0.71.

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