AUDUSD - POTENTIAL LONG ENTRY
AUDUSD OUTLOOK
Price is currently ranging in between 0.68900 (resistance) & 0.68200 (support). Trades within the range is possible via the ‘bounce’ strategy, where longs can be opened at the support. Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 0.69500 psychological level. Should price break out of the support of the range, it is expected to move towards the next support level at the 0.67600 level.
Since price is currently near the support of the range, impulse long entries are possible now. It might retrace back to the previous high and make it's way back up.
SL will be placed under the support, Final TP will be placed at the resistance of the range.
BUY LIMIT ORDER
R:R - 1:3
E/P: 0.6810
S/L: 0.6780
T/P: 0.6890
Price is currently ranging in between 0.68900 (resistance) & 0.68200 (support). Trades within the range is possible via the ‘bounce’ strategy, where longs can be opened at the support. Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 0.69500 psychological level. Should price break out of the support of the range, it is expected to move towards the next support level at the 0.67600 level.
Since price is currently near the support of the range, impulse long entries are possible now. It might retrace back to the previous high and make it's way back up.
SL will be placed under the support, Final TP will be placed at the resistance of the range.
BUY LIMIT ORDER
R:R - 1:3
E/P: 0.6810
S/L: 0.6780
T/P: 0.6890
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