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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeMay 29, 2020 - 20:49
Advisesell (limit) below R1=0.6685
Intraday
Short term
Yesterday range79
Yesterday high0.6666
Yesterday low0.6587
Yesterday close0.6634
R30.676
R20.6695
R10.6685
S10.6615
S20.657
S30.651
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.6685.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.6615.
TP4: S2=0.657.
Set the stoploss of these orders at breakout of R2=0.6695.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.6695.
In this situation, there is an expectation to reach the target R3=0.676.
Set the stoploss of reverse orders at breakout of R1=0.6685.

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