By: Dima Chernovolov
I recently subscribed to Autochartist’s latest e-mail feature and received these trade opportunity alerts. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets
Autochartist today sent the following trade opportunity alert for AUD/USD, which forecasts this currency pair to rise to the target level 1.0331 in the following two trading days (till next Monday). This trade alert is based on the 4-hour Down Channel chart pattern from the 12 February of this year. The stop-level for this advance is set at 1.01485 (point A, which is the bottom of the aforementioned Down Channel, that is still in the process of forming). The target level for this bullish forecast, 1.0331 (point B) corresponds to the previous downward reversal point of the upper resistance trendline of the aforementioned Down Channel.
As you can see from the following PowerStats chart for AUD/USD, the lower boundary of the daily Expected Price Range (1.0180) stands well above the bottom of this Down Channel, while the upper boundary of the EPR (1.0303) exceeds the upper resistance trendline of the same chart pattern – increasing the chances that the pair will soon break this trendline and will then reach the target level 1.0331 in the next 2 trading days.
To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and...