Following last weeks Wyckoff view I formed of the market we have seen two good rejection candles off of the Automatic Reaction ('AR') level. So we will probably be looking for the bottom of the cloud in the weeks to come at around 0.72. Then staying in the cloud to about the end of August. Well lets see were the ...
This pair is in an uptrend on the daily. I will be looking to follow the move upwards with these two patterns (Cypher and Bat)
We are already experiencing oversold conditions and have some structure looking left.
I believe we are at a pivotal moment for the AUDUSD depending on the next 1 or 2 candles. The yellow line above was a major support level in the past for the head and shoulders pattern and was also validated a few more times after that before break at the neckline. If price stays above this neckline in the next ...