Aussiedollar
A trading opportunity to sell in EURAUDMidterm Forecast:
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.6190 would begin in Midterm.
Technical analysis:
The RSI bounced from the resistance #1 at 62 and it prevented the price from more gains.
A trough is formed in the daily chart at 1.5425 on 06/14/2018, so more gains to resistance(s) 1.5825, 1.5890, 1.6040 and maximum to Major Resistance (1.6190) is expected.
Price is above WEMA21, if the price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
Trading suggestion:
There is a possibility of temporary retracement to suggested Sell Zone (1.5825 to 1.5890). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1.5825)
Ending of entry zone (1.5890)
Take Profits:
TP1= @ 1.5730
TP2= @ 1.5620
TP3= @ 1.5525
TP4= @ 1.5425
TP5= @ 1.5275
TP6= @ 1.5075
TP7= @ 1.4910
TP8= @ 1.4605
TP9= @ 1.4445
TP10= @ 1.4040
TP11= @ 1.3675
TP12= @ 1.2225
TP13= @ 1.1600
TP14= Free
