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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeMarch 25, 2020 - 19:49
Advisesell (limit) below R1=0.6025
Intraday
Short term
Yesterday range169
Yesterday high0.598
Yesterday low0.5811
Yesterday close0.5967
R30.621
R20.607
R10.6025
S10.5925
S20.5885
S30.5845
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.6025.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.5925.
TP4: S2=0.5885.
Set the stoploss of these orders at breakout of R2=0.607.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.607.
In this situation, there is an expectation to reach the target R3=0.621.
Set the stoploss of reverse orders at breakout of R1=0.6025.

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