MrVolcano

AUDUSD - Heading lower or bullish breakout?

FX:AUDUSD   Australian Dollar / U.S. Dollar
77 0 1
Price has been ranging in a wedge pattern with great predictability for the past two months. Price is again at the top of the range and showing signs that a downwards move could be imminent.

I think a short move is most likely. Two bearish signals have appeared at resistance and price has broken below the 4h upwards trendline . Stoch is showing overbought sell signals.

The daily chart shows that the wedge is narrowing and a breakout is due soon.

I'm going to cover both possibilities with an OCO             order.

A short order will be placed if price breaks 4h support at 0.7657.

A long order is placed above 0.7700 to capture a bullish breakout.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out