AUDUSD 240min. LONG SETUP IN DOWN CHANNEL, REBOUND EXPECTED !!
Hello everyone ! Seems aussie is moving in a downward channel since mid May. I expect the price catches its bottom of this channel around 29-30 July, from where I expect a violent rebound up to the marked 38.2 % FIBO retracement (0.7740) of 1-July high and projected 29-July low.
So here is the anticipated deal:
BUY LIMIT @ 0.7065/70 - VALID UNTIL 8-Aug 23.00 GMT
TARGET 1 - 0.7226 (23.6% retracement) - MINIMUM EXPECTED REBOUND
TARGET 2 - 0.7325 (38.2% retracement) - EXPECTED REBOUND
SL - unknown territory, so I guess somewhere under 0.7000 - let's say 0.6980/70 just for sure...
So here is the anticipated deal:
BUY LIMIT @ 0.7065/70 - VALID UNTIL 8-Aug 23.00 GMT
TARGET 1 - 0.7226 (23.6% retracement) - MINIMUM EXPECTED REBOUND
TARGET 2 - 0.7325 (38.2% retracement) - EXPECTED REBOUND
SL - unknown territory, so I guess somewhere under 0.7000 - let's say 0.6980/70 just for sure...
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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.