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Intraday forecastAustralian Dollar / US Dollar technical chart
SymbolAUDUSD
Release TimeMay 26, 2016 - 20:15
Advisebuy (limit) above S1=0.7175
Intraday
Short term
Yesterday range45
Yesterday high0.7218
Yesterday low0.7173
Yesterday close0.7198
R30.73
R20.726
R10.724
S10.7175
S20.7145
S30.706
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.7175.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.724.
TP4: R2=0.726.
Set the stoploss of these orders at breakout of S2=0.7145.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.7145.
In this situation, there is an expectation to reach the target S3=0.706.
Set the stoploss of reverse orders at breakout of S1=0.7175.

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