We can currently see a nice possible head and shoulder pattern forming in this daily time chart. I will be looking out for a nice rejection off resistance level @0.9615 (forming the right shoulder) before we see a bearish movement starting to form. We should be looking out for a nice rejection at that level. Price could potentially move to 23.6 fib level where it...
currently, price playing inside a trendline channel and potentially forming top formation (H&S pattern), bearish divergence on MACD indicates as the first sign of reversal might occur if the buyer failed to break out the 0.9690 resistance level.
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The price is moving on a down trend and im hoping that the price reaches the level 0.95478 near the trend line reaching the ema 89.
El precio se esta moviendo en una tendencia bajista, siento que el precio va a seguir bajando hasta llegar al nivel 0.95478 cerca de la linea de tendencia llegando hasta la Ema 89.
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AUD/CAD has been in strong uptrend recently. However, as pressure applies for AUD we believe this pair will test ascending channels support and maybe will even breakthrough this channel.
#AUD - Bearish Mode
1️⃣ Aussie down because of the rising COVID-19 cases in Australia,disappointing business confidence data and global risk sentiment moved towards negative.
2️⃣ U.S.-China tensions were once again a focus after China ordered the closure of a U.S. consulate in Chengdu and US Secretary of State Mike Pompeo urged China’s citizens to help...
Price action manages to break through the ascending trendline, with a retest of the broken line, and pass through the 200MA as the last line of defense for the coming bearish momentum. Now, expecting a pullback fro further downtrend continuation, a short entry is placed.
S/L: 15 pips - R:R | 1:2.5 -
T/P: coming support level