Valid from October 3th to October 11th. If the entry is given but stop loss and take profit levels are not reached before Friday October 11th 2019, close trade manually.
Entry = 1.00320
Stop loss = 1.01220
Take profit = 0.98820
Expected profit = 150 pips
Risk = 90 pips
Valid from October 2th to October 4th. If the entry is given but stop loss and take profit levels are not reached before Friday October 4th 2019, close trade manually.
Entry = 1.09829
Stop loss = 1.10247
Take profit = 1.09292
Expected profit = 53 pips
Risk = 46 pips
Bearish channel is finishing and currency is going to breakout soon. (B) level shows an important rejection so it is recommended to look for a bullish breakout. In addition, the Central Bank of Australia (RBA) made no change in interest rates yesterday and the currency is actually oversold, so an increase in demand is expected.
D1 time frame shows a clear bearish channel. It is recommended to start selling at 0.84741 (C2) until price will be close to 0.81248 (D). (D) level is a strong demand level, so when the price will test this level start buying.
Important rejection at 1.28801 (C). A, B and C levels build a bullish channel. It is recommended to start buying until the price reaches the resistance of bullish channel at 1.36132 (D).
