OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Last Month’s Candle closed as a bearish engulfing after testing the EMA resistance. EMA also crossed to the down side.

2 weeks ago we saw a hammer form at the bottom of the down trend, this was rejected by the monthly support level , forming a lower low. Followed by last week’s doji which tested the EMA resistance. EMA pointing downwards.

Yesterday’s candle closed with indecision in the market, Doji , which closed below the EMA resistance. If today’s price looks like it may close as an evening star .

Price rallied to a key fib level twice, with the second time giving way and dropping breaking the CTL. Alongside this the EMA has crossed back downwards. Last 4H candle has now closed below a monthly key level, turning the momently level from support to resistance.
Trade closed: target reached: Target Reached


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