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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeNovember 19, 2020 - 20:37
Advisebuy (limit) above S1=0.726
Intraday
Short term
Yesterday range59
Yesterday high0.733
Yesterday low0.7271
Yesterday close0.7304
R30.74
R20.7335
R10.7315
S10.726
S20.725
S30.7185
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.726.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.7315.
TP4: R2=0.7335.
Set the stoploss of these orders at breakout of S2=0.725.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.725.
In this situation, there is an expectation to reach the target S3=0.7185.
Set the stoploss of reverse orders at breakout of S1=0.726.

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