1, Double Top
2, Recently bullish leg failed to break the highs
3, Price did not respect the bullish trendline that was potentially forming
4, RSI Divergence (7 + 14 day)
5, Target is based on Fibonacci Cluster + Previous Daily Support
6, Target is also D point of a Gartley Pattern
1, Broke lower highs
2, Impulsed off daily support
3, Impulsed of HTF Trend Line
4, Wedge pattern
5, Bullish RSI Divergence
6, Target based on Fibonacci ext., exps. and inv. are in monthly zone and completion of Inverse Head and Shoulder
1, Rejected off monthly zone
2, Currently at daily support
3, Head and Shoulder pattern on daily support
4, Double top on daily timeframe (Dec 18 + March 19)
5, Daily support at 50% and 382 on Fibonacci Cluster
Target: based on Fibonacci cluster and previous support
Technical Strategy: Descending Wedge Pattern + Monthly Support
TP1: Base of Pattern
TP2: Next resistance area + Fibonacci Cluster
Commentary: AUD on it's way to a bullish run and CAD is on a decline.
1, Monthly Resistance
2, Double Top
3, Ascending Wedge
4, RSI Divergence
WAIT FOR DAILY CLOSURE BELOW THE LOWER BOUND OF THE WEDGE
TARGET BASED ON FIBONACCI RETRACEMENT ON HIGHER TIME FRAME + BASE OF PATTERN
PRICE CURRENTLY IN IT'S CORRECTION STAGE AFTER THAT HUGE BEARISH IMPULSE.
WAITING FOR PRICE TO BREAKOUT OF THE WEDGE.
WARNING: PRICE CAN GO ABOVE THE UPPER BOUND OF THE WEDGE AND CREATE ANOTHER PATTERN BUT THE SUPPORT LINE OF THE PATTERN WILL STILL REMAIN VALID.
TARGETS BASED ON FIBONACCI CLUSTERS
AUDUSD IS CURRENTLY IN THE MONTHLY SUPPORT ZONE WHICH HAS BEEN REJECTED 5 TIMES.
PRICE HAS FORMED A FALLING WEDGE WHICH I AM HOPING WILL PUSH PRICE TO THE BASE OF THE DESCENDING WEDGE NEXT RESISTANCE ZONE.
TARGET IS ALSO BASED ON FIBONACCI CLUSTERS ALIGNED WITH PREVIOUS STRUCTURE.
CURRENTLY IN CORRECTIVE PHASE FROM THAT BEARISH IMPULSE
THERE IS ALSO RSI DIVERGENCE
IDEALLY PRICE SHOULD CREATE NEXT IMPULSE ONCE IT BREAKS AND CLOSES BELOW THE TRENDLINE
Target based on 1.618 on Fib Extension + previous structure