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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

Feb 12, 2019

AUD/USD: technical analysis 12 February 2019, 10:48


Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 0.7075
Take Profit 0.7020
Stop Loss 0.7110
Key Levels 0.6968, 0.7016, 0.7053, 0.7075, 0.7105, 0.7137, 0.7170, 0.7193, 0.7209
Alternative scenario
Recommendation BUY STOP
Entry Point 0.7140
Take Profit 0.7190
Stop Loss 0.7110
Key Levels 0.6968, 0.7016, 0.7053, 0.7075, 0.7105, 0.7137, 0.7170, 0.7193, 0.7209
AUD/USD, D1
On the D1 chart, there is correction of the downtrend; the pair is trading near the lower line of Bollinger Bands, the price range is widened, which indicates a possible resumption of the decline. MACD histogram is in the negative area and gradually increases its volumes. Stochastic crossed the border of the oversold zone from above; the oscillator lines are reversing, forming a signal to open long positions.

AUD/USD, H4
On the H4 chart, the pair is moving in a lateral channel formed by the center and lower boundaries of Bollinger Bands; the price range is narrowed. MACD histogram is in the negative zone keeping a signal for opening short positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.

Key levels
Resistance levels: 0.7105, 0.7137, 0.7170, 0.7193, 0.7209.
Support levels: 0.7075, 0.7053, 0.7016, 0.6968.
Trading tips
Short positions may be opened from the current level with target at 0.7020 and stop loss at 0.7110.
Long positions may be opened from the level of 0.7140 with target at 0.7190. Stop loss — 0.7110.
Implementation time: 1-3 days.

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