hpis44
Long

AUDUSD 240min. LONG SETUP IN DOWN CHANNEL, REBOUND EXPECTED !!

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hello everyone ! Seems aussie is moving in a downward channel since mid May. I expect the price catches its bottom of this channel around 29-30 July, from where I expect a violent rebound up to the marked 38.2 % FIBO retracement (0.7740) of 1-July high and projected 29-July low.

So here is the anticipated deal:

BUY LIMIT @ 0.7065/70 - VALID UNTIL 8-Aug 23.00 GMT            
TARGET 1 - 0.7226 (23.6% retracement) - MINIMUM EXPECTED REBOUND
TARGET 2 - 0.7325 ( 38.2% retracement ) - EXPECTED REBOUND
SL - unknown territory, so I guess somewhere under 0.7000 - let's say 0.6980/70 just for sure...
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