FX.co ★ AUDUSD potential for rise to recent swing high resistance

Description :

Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 0.71115, where the current price is, we are looking to take profit at 0.74611, where the recent swing high is. Stop loss will be placed at 0.68684, where the previous overlap support is.

Trading Recommendation

Entry: 0.71115

Reason for Entry: bullish channel + Ichimoku cloud

Take Profit: 0.74611

Reason for Take Profit:

Recent swing high resistance

Stop Loss: 0.68684

Reason for Stop Loss:

Key support area