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VladimirRibakov
Apr 15, 2020 11:43 AM

AUDUSD Forecast Short

AUD/USDOANDA

Description

D1 - Price has reached an important resistance zone formed by the 38.2% - 50% fibonacci retracement level of the cycle we have and the downtrend line. Bearish Hidden Divergence.

H4 - While measuring the first wave, the 61.8% fibonacci expansion level coincides with the daily resistance zone which makes this area a very strong resistance zone and the price is holding in this zone.

20 candles ride in Bollinger Bands, bearish divergence.

H1 - Bearish convergence. Until the invalidation level shown in the chart holds we may expect further continuation lower.
Comments
transparent-fx
this is my directional view for audusd, we will see
VladimirRibakov
@transparent-fx, thanks for sharing your view
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