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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeSeptember 21, 2020 - 20:52
Advisesell (limit) below R1=0.7255
Intraday
Short term
Yesterday range51
Yesterday high0.7333
Yesterday low0.7282
Yesterday close0.7285
R30.734
R20.727
R10.7255
S10.7195
S20.717
S30.7145
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.7255.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.7195.
TP4: S2=0.717.
Set the stoploss of these orders at breakout of R2=0.727.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.727.
In this situation, there is an expectation to reach the target R3=0.734.
Set the stoploss of reverse orders at breakout of R1=0.7255.

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