FX:AUDUSD   Australian Dollar / U.S. Dollar
H4 - head and shoulders pattern followed up with a wedge near the right shoulder. Final target down to 0.733. Break of the trend line and test of resistance turned support at 0.77163 could invalidate the idea. For now patterns look favorable to the downside and offers a very decent RR.

Could be a good hedge against EURAUD             shorts, if you have entered a bit late into the trend.
Looks got mate, in the direction of major trend. Thanks for sharing and Good Luck!!
+1 Reply
moneymaking moneymaking
*good
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Look at the charts published and considering the 'BIG QUESTION' on USD, i'll be staying on the sidelines. On the contrary, I find Yen likely to gain strength this week.

Something is just not right in the US Dollar.
+1 Reply
I see what you see and i dont disagree..but i also see a double bottom as well ...hmmmm
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jangseohee anthony.pham00
let price do the talking next 5 working days to decide whether it is a double then
i know this is the volatile zone
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anthony.pham00 jangseohee
well..i zoomed in a bit more on a lower timeframe which invalidates what I said earlier...cheers
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0.7675 has been the mean so many time it is like a flipping region
another break down will see it to your target (my long term channel support-blue)
snapshot
+1 Reply
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