Hi All,
As you can see there is a possible head and shoulders pattern forming if you zoom out on the daily chart. The overall AUDUSD trend broke out from a descending channel. I will be keeping an eye on AUDUSD and if this weeks play is a short, I will look for an entry as confirmation.
This is not trading advice nor any suggestion of a trade. Any position held is purely at the traders risk.
Thanks again
As you can see there is a possible head and shoulders pattern forming if you zoom out on the daily chart. The overall AUDUSD trend broke out from a descending channel. I will be keeping an eye on AUDUSD and if this weeks play is a short, I will look for an entry as confirmation.
This is not trading advice nor any suggestion of a trade. Any position held is purely at the traders risk.
Thanks again
Comment:
Breakout from descending upwards, quite possibly be a fake out. Will see until close of day.