TECHNICAL ANALYSIS FOR AUDUSD

Traders Name: KAZI MONZURE KHODA

Time of Analysis: 1200 pm (GMT)

TRADE ANALYSIS:
At this moment commodity pairs like AUDUSD, USDCAD and NZDUSD are enjoying their rides which are related with gold and
crude oil. If we look AUDUSD, it has broken important resistance zone near 23.6 daily Fib (around 0.7205-0.7220 zone. It will be a
good opportunity for bull traders to buy at the retrace of current bullish run. 0.7222 is a good entry point as it is confluence with 23.6
fib which is also a good demand zone. Price may go towards north up to 38.2 fib level (around 0.7392) or 50 Fib level (around
0.7540).
MULTI-TIME FRAME ANALYSIS:
Weekly chart shows the divergence which supports the current bullish movement. Daily chart has been used to identify the key
support and resistance level, and H1 chart has been used for triggering the trade.
MONEY MANAGEMENT:
I will divide my whole position into three parts. My first position for long will be at 0.7222, second at 0.7112 and my last position will
be at 0.7000. My hard stop loss will be at 0.6893. My first take profit is at 0.7392 and second take profit is at 0.7540. If only first trade
triggers I will wait up to 2nd TP, if both 1st and 2nd are triggered I will close one position at 1st TP and another in 2nd. If three trades
are triggered, I will exit all trades in 1st TP. This money management is in line with my positive risk-reward ratio.
TRADE SIGNAL:

ENTRY:
1st Long entry @ 0.7222
2nd Long entry @ 0.7112
3rd Long entry @ 0.7000

TAKE PROFIT
1st Take Profit @ 0.7392
2nd Take profit @ 0.7540

STOP LOSS
Hard Stop Loss @0.6893

WEEKLY CHART:

DAILY CHART

H1 CHART: