fosis
Short

Possibility of fake breakout after RBA decision.

FX:AUDUSD   Australian Dollar / U.S. Dollar
The price has return to the new support line I drew, crossing triangle resistance line (blue). I was hoping that this line will stand, but it hasn't.
So the main point of this chart for me is this big white bullish candle. It has long lower shadow. What caused it?
The RBA interest rate decision to stay at the same level as earlier (2%). Before announcing this, price created big beartrap and caught them.
The long lower shadow candle suggest more upward moves, but there is mid-term resistance line on its way.

Taking all the facts into account, we get 2 possible scenarios.
First one, with higher probability for me, the bulls will push the price to 61,8% fibonnaci retracement, than the sentiment with RBA will cool down, people will take profits and bears will be pushing price lower. Moreover there will be Non Farm Payrolls data for USD and I think this data got to be pro dollar.

The second scenario implies, that the bears will actively defend this resistance line and will push back bulls, creating selling signal.
Comment: WTF my particular words were changed to particular stocks...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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