TOUCH THE SKY OR DOWN UNDER WITH AUDUSD
I see an uptrend for AUDUSD so I suggest a buy (limit) above 0.7355.
But the short term forecast is range bound, so we expect to reach the following targets: 0.741 and 0.744.
Set the stoploss of these orders at breakout of 0.7335.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout 0.7335 and a good entry would be 0.73150
In this situation, there is an expectation to reach the target 0.726.
Set the stoploss of reverse orders at breakout of 0.7355 to account for retrace before the final push down.
But the short term forecast is range bound, so we expect to reach the following targets: 0.741 and 0.744.
Set the stoploss of these orders at breakout of 0.7335.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout 0.7335 and a good entry would be 0.73150
In this situation, there is an expectation to reach the target 0.726.
Set the stoploss of reverse orders at breakout of 0.7355 to account for retrace before the final push down.