themarketzone

About to complete its bearish 3 Drives pattern

Short
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
Follow me on TradingView
Subscribe to my newsletters - goo.gl/R3gPVE
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.