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Mihai_Iacob
Apr 26, 2021 3:25 AM

AudUsd- is it carving the right shoulder? 

Australian Dollar/U.S. DollarFXCM

Description

For almost a year AudUsd has been in an uptrend, with the pair gaining from bottom to top 2500 pips, but more importantly almost 50%.
However, after 0.8 top, the pair started to correct and the price evolution so far this year started to resembles a H&S (INCOMPLETE AND UNCONFIRMED)
A dive back to 0.76 support would give confidence to bears for a deeper correction and, on the other hand, Aussie back above 0.7850 would lead to further gains above 0.8
Comments
Henry_Ross
Nice chart!
Rawkoala
Nice analysis!
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