Aussie was in an uptrend for a while, since last month its struggling to make a new high, price fell of the trend line and found support at monthly support 0.7750 level. Price then went up a bit but failed to go beyond 0.7875 level, this level has been test 3 times now but haven't been broken. Last friday price test level again and got rejected closed as bearish engulfing candle. forming double top formation and last week the inside bar candle stick formation had formed.
On lower time frame we have M.A crossed over to the downside + price broke and closed below the inside bar rectangle + C.T.L break
My bias is bearish potentially making a new low
On lower time frame we have M.A crossed over to the downside + price broke and closed below the inside bar rectangle + C.T.L break
My bias is bearish potentially making a new low
Comment:
TP hit!