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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeApril 30, 2020 - 20:07
Advisesell (limit) below R1=0.655
Intraday
Short term
Yesterday range73
Yesterday high0.6557
Yesterday low0.6485
Yesterday close0.6555
R30.6645
R20.657
R10.655
S10.647
S20.6445
S30.639
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.655.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.647.
TP4: S2=0.6445.
Set the stoploss of these orders at breakout of R2=0.657.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.657.
In this situation, there is an expectation to reach the target R3=0.6645.
Set the stoploss of reverse orders at breakout of R1=0.655.

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