AUDUSD Monthly Outlook
AUDUSD Monthly Outlook
- During 2018 we witnessed price not only break that macro trendline, but retest it and continue bearish momentum.
- Pay attention to the arrows on the chart. Those symbolize where price engulfs the previous month, continuing the meltdown of AUDUSD. You can see how November 2018's bullish engulfing candle may have enticed many to enter short/long term buys. The following month (December 2018), price continued the bearish trend by engulfing back to the downside.
- We had a "flash crash" to start the month, which is easily visible by that long wick. Based on how this month's candle closes, we'll see whether the next few months will be bullish or bearish.
