Yes, as we can see there is a channel pattern and there is support from the previous structure, it is possible that the price could still fall first
to say it is going up there must be confirmation, wait and see
We can see the pattern on the monthly time frame and this is the time for AUDUSD to rise
Then, what we have to pay attention to is the strong area that I described, now the price has made a rejection, all we have to do is wait for confirmation to entry
As you can see, the structure is bearish
when the price come back to lower high, im looking for some pattern then i found the head and shoulder
good luck!
DYOR
As you can see at the current timeframe, the trend is bearish ( for now )
as long as the price not break the last LH ( Lower High ), i still persisted to take it short but still consider important areas
my current trading risk is 1 : 2
goodluck!
The price will go up to around 1.34951, if the price can break the resistance, it will go up to 1.35846 or more
this just my prediction, i will not share my analysis here at this time
Dont worry, sometimes I share a complete analysis along with an explanation, it's a shame I can't share it in every post!
Say tune buddy!
The price will follow the channel, mostly will not last long
So, this Parallel Channel is just temporary
You can wait the price to break of the Parallel channel for entry
just commit to your strategy buddy
Enjoy!
See another vision of EURUSD below
USDCHF has traded into trendline resistance prior to the USD Redbook Index Data, which is a sales weighted year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9.000 stores. Technically the pair has rebounded from support and the USD is currently quite choppy. We anticipate downwards pressure from here.
"The US dollar index extended its upward momentum to, close to levels not seen since the end of March benefiting from a safe-haven bid on fears that a surge in infections of the Delta variant could derail the global recovery and a batch of mixed economic data.
Retail sales in the US declined more than forecast in July, with the core index also posting an...
Asia-Pacific markets face a shaky open to the week after Australia tightened lockdown measures in Sydney, the country’s most populated city, over the weekend. The New South Wales (NSW) capital city saw a range of added restrictions since Friday, including a shutdown of non-essential retail storefronts, as policymakers scramble to contain a new wave of infections...
A backtest of the monthly trendline has completed. Now we're seeing this pair aiming to retest the high for a potential double top @ 112.500.
Happy Trading, folks!
Cheers!
