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BlueHatInvestor

AUDUSD ~ Snapshot TA / Inverse H&S In The Making?

Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
BlueHatInvestor  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Fibonacci Double Top or Bottom Head and Shoulders AUDUSD audusdanalysis Forex chartanalysis chartpatterntrading
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fibonacci doubletoporbottom headandshoulders audusd audusdanalysis forex chartanalysis chartpatterntrading
AUDUSD getting the Bullish bounce after finding a temporary bottom.

Intriguing price history - double top rejection looks like formation of "Left Shoulder" of a long-term Inverse H&S pattern..

If AUDUSD has indeed established bottom, extrapolating head/neckline takes price target to ~74 cents (23.6% Fib Extension - March 2020 Covid Bottom / Feb 2021 Top).

Further accumulation ie "Head" development strengthens argument for Inverse H&S...then again it's way too early to call & pure speculative indulgence on my part.

Nevertheless, TBC.


Boost/Follow appreciated, cheers :)

6A1! 6A2!

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