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AUDUSD / H1 / Daily Forex Technical Analysis / 5.21.2019

Long
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
FuturesForexClasses  
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Harmonic Patterns dailyanalysis AUDUSD h1 Technical Analysis Forex forexsignals forextrading forextradingzones may2019
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trendanalysis chartpattern harmonicpatterns dailyanalysis audusd h1 technicalanalysis forex forexsignals forextrading forextradingzones may2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 21st, 2019 and we will be taking a look at the Australian Dollar against the U.S. Dollar. Looking at the 1 hour time frame we can see price action had a minor retracement back to its previous lows not quite reaching them, so it seems as price action is setting in a higher low. If price action can mange to get some bullish continuation off the .68958 support and resistance area we will look for an opportunity to enter Long. Entry for a Long position near the .68957 area, with a Stop Loss near the .68826 zone, with a target profit level area of .69332 to possibly ensure a profitable trade with a 2.86 to 1 R/R.
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