SAXO:AUDUSD Australian Dollar / U.S. Dollar
We expect further downside on this pair, signalled by the formation of an expanding triangle pattern breakout. We can also see the breakout, close and retest of the price below the key level on lower time frames, further supporting our directional basis. The trend has changed from bullish to bearish.
Trade closed: target reached:
Target was reached based on the analysis. Trade was closed based on our trading rules regarding overnight risk.