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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeJanuary 29, 2015 - 21:44
Advisesell (limit) below R1=0.7855
Intraday
Short term
Yesterday range141
Yesterday high0.8024
Yesterday low0.7883
Yesterday close0.7888
R30.797
R20.788
R10.7855
S10.772
S20.77
S30.765
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.7855.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.772.
TP4: S2=0.77.
Set the stoploss of these orders at breakout of R2=0.788.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.788.
In this situation, there is an expectation to reach the target R3=0.797.
Set the stoploss of reverse orders at breakout of R1=0.7855.

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