AUSDUSD FOERECAST
If we start by looking at the monthly we have a beautiful head and shoulders patter which indicates more downside price movement.
Dropping down to the weekly we do have a bearish engulfing pattern followed by a shooting star indicating that there are no bulls left holding price up.
On the daily timeframe we see an evening star pattern which is bearish 3 candlestick formation.
Looking at the 4hourly timeframe we see another head and shoulders pattern.
The 2hourly chart does have an zone nearby where there will be some profit taking and then some corrective consolidation and then some downside impulses.
For those new traders looking to benefit from this forecast I do not give entry points and stops however on the 30 minute timeframe we do have an evening star pattern forming and the recent lower high would make a good stoploss.
As always feel free to leave your comments below
keep it short and simple
Have a blessed trading week
Dropping down to the weekly we do have a bearish engulfing pattern followed by a shooting star indicating that there are no bulls left holding price up.
On the daily timeframe we see an evening star pattern which is bearish 3 candlestick formation.
Looking at the 4hourly timeframe we see another head and shoulders pattern.
The 2hourly chart does have an zone nearby where there will be some profit taking and then some corrective consolidation and then some downside impulses.
For those new traders looking to benefit from this forecast I do not give entry points and stops however on the 30 minute timeframe we do have an evening star pattern forming and the recent lower high would make a good stoploss.
As always feel free to leave your comments below
keep it short and simple
Have a blessed trading week
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