FX:AUDUSD Australian Dollar/U.S. Dollar
Some AUD events due shortly. Chart looks perfect for potential spike high in price and reversal to complete this falling wedge with downside target of 0.85. This fits well with AUDNZD pair bouncing and NZDUSD also potential short. Uot of the 2 pairs I think NZDUSD have more potential to the short side.
I agree, it is a difficult one. Price has continued little further than originally anticipated when I first published my chart. I think the interim top is in and what appears to be a handle of your C&H pattern might not form. If it does then you will have excellent long trade. We will have to wait and see. Thanks your your comments.
I see the divergence you are referring to. However, I am not sure if I agree with your interpretation for this divergence. This weekly chart, hence a downtrend, in which if you get higher reading on indicator but LH on price then it is considered hidden divergence in which case it suggest continuation ie revert back to downtrend even if that just results in a retracement of the move up from low. So at minimum there is price weakness in store. Thanks for your comment and sharing your chart. I appreciate it.