AUDUSD Retraced and It's going Back Down Under

FX:AUDUSD   Australian Dollar / U.S. Dollar
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The US Dollar             has been showing potential bullish signals, which led to the entry signal here in the AUDUSD             . On the daily chart , the AUDUSD             has retraced back up to the .382 Fibonacci retracement level, while forming a clear doji . At this level, the doji not only tests the .382 FIbonacci retracement level, but also the 50EMA and the strong support/resistance level of .7800. I am expecting bearish movement on the currency pair.
Good analysis =)
+1 Reply
Not sure i could call that a doji however i agree with the rest of your analysis
+1 Reply
Wolfthorne SteveTobin
I believe she is referring to the "Spinning Top" type doji shape.
+1 Reply
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