AUDUSD: Getting ready for a major breakout!
The AUDUSD has is closer to a major directional move.
This is the weekly chart, and therefore this is a longer term chart for you to have a secular view of what's going on with the pair.
Bollinger bands has narrowed significantly, as volatility drops. While the price settles at the main long term falling trend line. My strategy for this pair is to wait for a breakout above or below the triangle formation and trade in the direction of the breakout. Minimum targets for the two scenarios are outlined on charts by the horizontal lines.
Best Regards,
Technician
This is the weekly chart, and therefore this is a longer term chart for you to have a secular view of what's going on with the pair.
Bollinger bands has narrowed significantly, as volatility drops. While the price settles at the main long term falling trend line. My strategy for this pair is to wait for a breakout above or below the triangle formation and trade in the direction of the breakout. Minimum targets for the two scenarios are outlined on charts by the horizontal lines.
Best Regards,
Technician