If you gonna short with low lot size Can enter now with sl around 1570, I personally will be waiting for entry around 1550-60 area with sl 1575. a break below could be a very good sell up to 1450-80 area.
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:
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...
. 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.
. 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....
My BIAS for AUD/USD for the upcoming week is NEUTRAL.
My reasons for this is
-We are currently consolidating between a Daily Support at 0.67400 & 4H Resistance at 0.67980. Currently price is at 0.67486 just above our Daily Support so we could see a rejection of this level and a Long position towards 0.67980 or we could see a break below and a retest of our Daily...
Really boring consolidation last week as we see a very weak Phase 2 movement
Look out for an exhaustion candle move up this week and if price stays below 0.6850-60 then there is a potential for a Phase 1 move back to the downside
A move above the level could signal that the weekly chart has bottomed out. Interesting to note that the Pre-Election seasonal cycle...