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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeOctober 20, 2021 - 21:43
Advisebuy (limit) above S1=0.749
Intraday
Short term
Yesterday range58
Yesterday high0.7523
Yesterday low0.7465
Yesterday close0.7516
R30.7585
R20.7565
R10.7545
S10.749
S20.748
S30.7415
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.749.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.7545.
TP4: R2=0.7565.
Set the stoploss of these orders at breakout of S2=0.748.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.748.
In this situation, there is an expectation to reach the target S3=0.7415.
Set the stoploss of reverse orders at breakout of S1=0.749.

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