#AUDUSD inverted Head & Shoulder pattern
Not only price managed to break above long term bearish daily channel but also seems like price completed a reverse head & shoulder pattern by breaking above the neckline as you can see in the chart.
As a result we can expect to have a bullish continuation move at least towards the bearish trendline on red.
Pull back to the broken neckline would be most favorable setup to go long in this pair.
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As a result we can expect to have a bullish continuation move at least towards the bearish trendline on red.
Pull back to the broken neckline would be most favorable setup to go long in this pair.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Trade active:
in a past few days price been consolidating in a corrective manner which suggest price could continue moving higher towards our target.
Comment:
This bearish move could be considered as a pullback towards the neckline of inverted head & shoulder pattern.
