themarketzone
Short

About to complete its bearish 3 Drives pattern

FX:AUDUSD   Australian Dollar/U.S. Dollar
My latest analyses on $AUDUSD mentioned the possibility that $AUDUSD will complete a bearish 3 Drives pattern near 0.74 (see bullish scenarios in the linked idea).
Now, following RBA's rate decision, $AUDUSD is very close to the PRZ of this pattern.
The bearish setup:
Sell 0.74 with stop loss above 0.747 (above the 200 SMA line resistance)
Target previous structure resistance (now support) - 0.725

Tomer, The MarketZone
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Tomer J,
The Market Zone - You trading Edge
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