PrimeXBT
Short

AUDUSD- The reversal.

FX:AUDUSD   Australian Dollar / U.S. Dollar
The rounded shaped two tops shows that price is looking to drop down to test the nearest support. On the 2hours time frame, the price chart of AUDUSD has been spotted forming a double top (EVE&EVE). These tops are round in shape which clearly shows what it represent in name.
The rounded EVE and EVE top is a bearish reversal chart pattern most times spotted during an up trend.
Price has broken down from the horizontal support, which gives a clear signal to go short. Traders should always remember that when price closes below the horizontal support it tends to turn to future resistance.
The follow levels are what traders need to keep an eye on:
Open short position:$0.68737
Support 1: $0.68649
Support 2: $0.68504
Support 3: $0.68377
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.
Follow PrimeXBT to stay updated on platform developments, trading competitions and more!

Website: https://primexbt.com/
Twitter: https://twitter.com/PrimeXBT
YouTube: https://www.youtube.com/channel/UCzH0C03Gy8uHyKr-Y59cwJg

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out