AUDUSD closed above weekly support area 0.7400. I am expecting upside for this pair to next weekly resistance area.
Reason :
- Strong daily candlestick closing above 0.7400
- Higher high on higher TF chart.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP1 : 0.7500, TP2 : 0.7555 ; SL below weekly support area .
Risk Reward 1:1.75
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Strong daily candlestick closing above 0.7400
- Higher high on higher TF chart.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP1 : 0.7500, TP2 : 0.7555 ; SL below weekly support area .
Risk Reward 1:1.75
Always remember to trade with stop-loss, market is crazy & cunning*
Comment:
TP1 : 0.7500 HIT
Trade closed: target reached:
TP2 : 0.7550 area hit. Closed my position for profit reaping, awaiting short pullback for further long.
Comment:
Further upside for Aussie is expected, next target .7600
Further upside for Aussie is expected, next target .7600
Trade closed: target reached:
Target hitted before FOMC.
Comment:
Resistance (0.7550 area) has become support now, further LONG can be executed to the upside target of 0.7710 area.