OANDA:AUDUSD   Australian Dollar / U.S. Dollar
We can see here the AUDUSD is currently in a range with both bearish and bullish pressure currently weak. The RSI is showing a level below 50, which indicates that there is a stronger selling pressure fighting against the bulls and this could potentially show that within the week the price of AUDUSD will drop towards the next key level or towards the long-term trendline that is drawn on the graph. Also, the RSI is forming some sort of head and shoulders pattern therefore I expect price to reverse back up to the key level 0.75537 for a retest of that resistance and if it does reject than there will be a good time to enter. Patterns identified here are a double top and incoming RSI head and shoulders . I feel like AUDUSD will drop as it has had a good long run pushing upwards and the time for it will end temporarily, good luck people and stay patient!

Comments

nice setup
+1 Reply
Envious_ GreenCryptoTrades
@GreenCryptoTrades Thank you GreenCrypto
Reply
Nice idea bro
+1 Reply
Envious_ fxpays
@fxpays Thank you Fxpays
Reply
Nice head & shoulders 💥
+1 Reply
Envious_ CeoCodes
@CeoCodes Thank you CeoCodes
Reply
So after hitting your Stop are you entering here again
Reply
Envious_ EzalorInvestments
@EzalorInvestments sorry for late reply it depends if the market makes a push downwards and rejects off this level but this pair has risen too far above where it was 3 days ago
Reply
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