Support - S1 : 0.78715 | S2 : 0.78147 | S3 :
0.77667
Resistance - R1 : 0.79763 | R2 : 0.80243 | R3 :
0.80811
Main Trend - Bearish
Intraday Trend - Bearish
Studying the charts of forex technical analysis for the exchange rate AUDUSD, we can observe that in
the four hour chart, the price find support from the EMA (50) and from the
upward trendline. At the same time, there ia an upward cross among the EMA (50)
and EMA (200). Also, we must mention that the price moves in the upper channel
of a downward Andrews Pitchfork. In hourly chart, we notice that the
technical view is exactly the same.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets
for H1 and H4 timeframes:
4H Chart
The area 0.7935 – 0.7905 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.8015 , 0.8065 , 0.8100.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be : 0.7860 , 0.7830 , 0.7785 , 0.7720.
1H Chart
The area 0.7927 – 0.7913 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.7947 , 0.7967 , 0.7990.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be : 0.7865 , 0.7836 , 0.7812 , 0.7785.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use stop loss levels.
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