Get started
phillip_nova

AUDUSD: Bearish Outlook on Imminent Head & Shoulders Breakdown

Short
Australian Dollar / U.S. Dollar (PHILLIPNOVA:AUDUSD)  
phillip_nova Broker  
PHILLIPNOVA:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns AUDUSD
8
0
trendanalysis chartpattern audusd
AUDUSD is poised to complete a head and shoulders pattern that formed since 19 December 2023 in the event prices break below the neckline support around 0.6690 (S1). Our downside technical target is set at 0.6545 (S3) upon the pattern breakdown.

A breach below S1 would also confirm a breakdown from a broader rising channel pattern that took place since October.

Sell Entry (S1): 0.6690
SL: 0.6755
TP: 0.6545
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.