As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.665.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.6605.
TP4: S2=0.6585.
Set the stoploss of these orders at breakout of R2=0.6665.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
The weekly right side is down against the .8130 highs from 1/26/2018 & the daily right side is down against the 1/31/2019 highs at .7299. The 4 hour is favored to turn up soon when the pair corrects the cycle from the .7032 highs from 12/31/19 & while below there expect the pair turns back lower.
The 4 & 1 hour is turning up against the .6674 lows. While above there the pair can see a bounce to correct the cycle from the 1/26/2018 highs at .8144 where the daily right side is down.
The larger wave I lower from the .8135 wave (IV) highs from 1/26/2018 where the weekly & daily right side is down ended the cycle at .6670 on 10/2/19 . From there a wave ((W)) is in place on 12/31/19 at .7033 where the 4 & 1 hour are turning lower. While a bounce fails below there expect wave ((X)) corrects the cycle from the 10/2/19 lows.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.686.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6895.
TP4: R2=0.691.
Set the stoploss of these orders at breakout of S2=0.685.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.68.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6835.
TP4: R2=0.6855.
Set the stoploss of these orders at breakout of S2=0.679.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.688.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6915.
TP4: R2=0.693.
Set the stoploss of these orders at breakout of S2=0.686.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
AUDUSD has rebounded from the falling wedge pattern in which it has been moving from past one year. The bounce was supported by the positive divergence between the price and RSI indicated by blue lines. The upwards thrust can bring the prices to 0.68676. The stop loss for the entire trade will be at 0.66582.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.673.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6775.
TP4: R2=0.68.
Set the stoploss of these orders at breakout of S2=0.672.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.6755.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.68.
TP4: R2=0.683.
Set the stoploss of these orders at breakout of S2=0.6735.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.6735). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
