Kautilya
Short

AUDUSD - Short Term Trade.

FX:AUDUSD   Australian Dollar/U.S. Dollar
47 0 3
Favorable to Short Term trend:

AUDUSD             has constantly for past few session rejected .76639 levels.. so assuming if downward trend continues from partial rise..

A Pennant formation - breakout confirmation from here (another long red candle below pennant ) should give us a measured move to .75553.

Red dotted lines are Resistance level .
Green lines are support level .. have taken the base of earlier broadening wedge as S2 and S3. S1 is earlier long green candle from where the initial price rise started.

Be Careful:

Close the trade, if the downward slide is very slow...

we had similar pattern in one of the instrument, initially the price break but then turnaround due to news and broke its major resistance level for new upside.

If it breaks the yellow slanted trendline with strong green candle, may be we will then see change to upside.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out