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MEX_Exchange

AUDUSD approaching profit target, prepare to buy

Panjang
Dolar Australia / Dolar A.S. (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Dolar Australia / Dolar A.S.
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal Forex forextrading
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal forex forextrading
Buy above 0.7854. Stop loss at 0.7834. Take profit at 0.7897.
Reason for the trading strategy (technically):
Price has dropped perfectly towards our profit target and is fast approaching it. We prepare to buy above major support at 0.7854 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7897 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing nice support above 8.5% where we expect a bounce from.
Penafian

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