AUD/USD (LONG TERM SHORT Weekly) expected price in 3 months
This is long term technical analysis, it is for expected forecast in a 91 days,
Firstly, there is a change in a trend, currently we are in a DOWN TREND, also retested RES 1 @ 0.96883 and RES 2 @ 0.94600 (PSY Price Level).
Secondly, we have on those price levels BERSIH Engulfing Pattern confirming reversals.
Thirdly, on RSI, also supported with SMA 90, we have couple of DIVERGENCES, both Neg and Pos.
Finally, currently we have divergence and break on RSI level 70, showing the upper swing trend is OVERBOUGHT, and bulls are losing momentum in a swing. Moreover, as explained we are in a down trend both MA and SMA on proper directions and positions. Indicating Short Position.
*Please have in mind, this is LONG TERM ANALYSIS (WEEKLY CHART ANALYSIS). my predictions are in a 3 months period forecast. SL:TP ratio 1.56%/4.22% (1:4)
Have a nice profitable monthly trades!
All the best,
V.
Firstly, there is a change in a trend, currently we are in a DOWN TREND, also retested RES 1 @ 0.96883 and RES 2 @ 0.94600 (PSY Price Level).
Secondly, we have on those price levels BERSIH Engulfing Pattern confirming reversals.
Thirdly, on RSI, also supported with SMA 90, we have couple of DIVERGENCES, both Neg and Pos.
Finally, currently we have divergence and break on RSI level 70, showing the upper swing trend is OVERBOUGHT, and bulls are losing momentum in a swing. Moreover, as explained we are in a down trend both MA and SMA on proper directions and positions. Indicating Short Position.
*Please have in mind, this is LONG TERM ANALYSIS (WEEKLY CHART ANALYSIS). my predictions are in a 3 months period forecast. SL:TP ratio 1.56%/4.22% (1:4)
Have a nice profitable monthly trades!
All the best,
V.