AUDUSD touched our buy entry and bounced perfectly, we will remain bullish for a further rise.
Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price touched our buying entry and bounced absolutely perfectly as expected. We remain bullish above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.
Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price touched our buying entry and bounced absolutely perfectly as expected. We remain bullish above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.