AUDUSD Ready for a move lower
With recent strength in the US Dollar and a weakness seen in Aussie employment, recently a failed H&S pattern did not occur but a break of the steep trend line indicates a move to the South to an area of support around 0.735-0.73.
My advice is to wait for a pullback early this week upwards and then enter upon either a strong move down or alternatively wait for the structure to break the lower low indicated by the top of the right shoulder.
For more information on setups/education, follow me on here, twitter (see trading view home page) or at www.ejfxtrading.com
My advice is to wait for a pullback early this week upwards and then enter upon either a strong move down or alternatively wait for the structure to break the lower low indicated by the top of the right shoulder.
For more information on setups/education, follow me on here, twitter (see trading view home page) or at www.ejfxtrading.com
Apologies, I should have shown you the channel in which has formed, whereby the top has now formed as resistance and a move to the lower end of the channel is now expected