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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeOctober 19, 2021 - 23:41
Advisebuy (limit) above S1=0.7435
Intraday
Short term
Yesterday range78
Yesterday high0.7485
Yesterday low0.7407
Yesterday close0.7474
R30.7535
R20.7505
R10.749
S10.7435
S20.742
S30.735
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.7435.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.749.
TP4: R2=0.7505.
Set the stoploss of these orders at breakout of S2=0.742.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.742.
In this situation, there is an expectation to reach the target S3=0.735.
Set the stoploss of reverse orders at breakout of S1=0.7435.

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