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GA Analysis sell
AXY (Austrian Dollar Index) made a false breakout of the strong resistance level of 70.6
Think it will be a correction to the intersection of the support level 70.0 with the support line
Update on Audusd enter again and move first entry to breakeven.
We saw the formation of a triple 3 pattern.
And it's likely that the cycle of motion has changed.
Now we start to estimate a motivational move
Details on the chart
GBPAUD has formed a wedge on D and 4hr, possible for the wedge to break to the downside.
GBPAUD: Break of red zone would open way for 1.80 price target for sells.
axy aud australia
overall perspective, big downtrend
rising wedge which broke to the downside
closed below MajorQP, i see it completing the 500pip QP range at 65, 2010 low
a break below 65 would open more dowsnide to complte 1000pip range, 2008 low
aud usd seem like first short possible then good chance to buy entery
Sorry for the mess of a chart.
We are expecting AUD weakness over the next few weeks.
AUD/XXX = \ bearish
XXX/AUD = / bullish
*Generally, (XXX) matters just as much!
Not much to see here.
Lets see how it plays.