price is actually into a bearish flag
, constructing a potential zigzag
elliot's pattern that could put the AUDUSD
on the 0.71160 level (witch is the neckline of an inverted head & shoulders
, a pullback on a trend line
, a fibonacci cluster
(retracement + expansion), a retest of an Andrew's pitchfork
MLH, and a potential bounce on the MA200.....). if the market go till this point, it will be the end of the wave 2 of the Elliot wave
3, so a beautiful bullish
action could start.
BUT, everything's not pink...there"s another fibonacci cluster
at 0.71240 (and price has already almost reached this level) but not the energy point). furthermore, RSI
are both laying on bullish trendline
, so for the momentum, price could yet go higher.
PS : Sorry for my poor english (it's very hard for a french guy...)