Forex Trade Update: AUD/USD Analysis
Pair: AUD/USD
Trade Type: Buy
Entry Price: 0.62830 📈
Stop Loss: Initially set below the entry point and adjusted to the entry level upon hitting the first target. 🚫
Take Profit Levels:
Target 1: 0.63250 🎯
Target 2: 0.63760 🎯
Target 3: 0.64220 🎯
Analysis:
AUD/USD has broken out of the supply zone on the 1-hour timeframe, indicating a continuation of the uptrend. The EMA50 confirms bullish momentum. Enter long at 0.62830, with multiple target levels for partial profits. Upon hitting 0.63250, adjust the stop loss to the entry level to secure the trade and minimize risk.
Risk/Reward Ratio: Favorable
📊 Keep an eye on price action and EMA50 for further confirmation. Manage your trade carefully and stay disciplined!
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