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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeFebruary 24, 2020 - 20:14
Advisesell (limit) below R1=0.6625
Intraday
Short term
Yesterday range54
Yesterday high0.6638
Yesterday low0.6585
Yesterday close0.6625
R30.671
R20.664
R10.6625
S10.6585
S20.6565
S30.654
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.6625.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.6585.
TP4: S2=0.6565.
Set the stoploss of these orders at breakout of R2=0.664.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.664.
In this situation, there is an expectation to reach the target R3=0.671.
Set the stoploss of reverse orders at breakout of R1=0.6625.

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