FX:AUDUSD   Australian Dollar / U.S. Dollar
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Weekly: Using fibonacci on the weekly we can see that price still has 80 pips to go till weekly fib extension is hit
Daily: Price is still creating lower highs, thus we are still in a downtrend; using the fibonacci we can see that the 0.38 fib level is holding
4 hour: Price completed a double top formation
2 hour: Price formed an evening star to complete the second top of the double top
1 hour: Price formed spinning tops followed by bearish engulfing to complete the second top of the double top

Remember, nothing is certain in this market but through taking in the information given to us by the market one can make a calculated risk.

Comments

Price hit the 0.75 institutional level and then made the move down
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