Forex Analysis & Reviews: AUDUSD Potential for Bullish rise to previous swing high





Description :
Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, Looking for a buy entry at 0.71277 where the pullback entry and the 1st resistance level. We are looking to take profit at 0.72775, where the previous swing high is and -27.2% Fibonacci line. Stop loss will be placed at 0.69753 where the recent swing low support is.


Trading Recommendation


Entry: 0.71277


Reason for Entry: Ichimoku cloud + price momentum


Take Profit: 0.72775


Reason for Take Profit:


Previous swing high resistance


Stop Loss: 0.69753


Reason for Stop Loss:


recent swing low support


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.



Analysis are provided byInstaForex.

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