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Intraday forecastAustralian Dollar vs. US Dollar technical chart
SymbolAUDUSD
Release TimeMon, 01/13/2020 - 19:56
Advisesell (limit) below R1=0.692
Intraday
Short term
Yesterday range60
Yesterday high0.691
Yesterday low0.685
Yesterday close0.69
R30.7005
R20.6935
R10.692
S10.688
S20.685
S30.68
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.692.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.688.
TP4: S2=0.685.
Set the stoploss of these orders at breakout of R2=0.6935.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.6935.
In this situation, there is an expectation to reach the target R3=0.7005.
Set the stoploss of reverse orders at breakout of R1=0.692.

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