Bullish Butterfly with triple bottom on Aussie

FX:AUDUSD   Australian Dollar / U.S. Dollar
$AUDUSD's bearish 3 Drives pattern generated a 500 pips move and pushed $AUDUSD back to previous daily support zone – 0.69

The price completed a bullish Butterfly right on the daily support zone , creating a triple bottom with harmonics bullish combination setup.

It would be wise to wait to see the price stabilizing inside the support zone before trying to trade this potential bullish scenario. Right now we see some bounce in Aussie from the support zone .
Look for intraday or daily price reversals near 0.68-0.69 that may indicate that Aussie will head towards some correction move against the Dollar.

0.7, 0.71 and 0.715 are potential target zones.
Stop loss should be at least below 0.685 (assuming the price stays above 0.69)

This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week-
To subscribe to the newsletters -

Tomer, The MarketZone
Tomar where do you think the Aussie is going to go from here?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out