with the dollar setting up patterns so is its pairs. I anticipate a slight correction the the large impulse which would set up a head and shoulders for xxxusd pairs. this would fit well with the dollar to break to the upside after breaking its trend
Possible reversal to test trend that was broken or create a complete reversal. the head and shoulders does indicate a reversal pattern rather than a continuation pattern to go with the downside so in this case I will be looking for breaks to the upside.
AUD value under-valued. AUD will grow in strength. smaller time frame showing for a possible bear flag which would indicate the last smaller down push to complete overall correction before heading up as the AUD grows in value
With the banks feeling like AUD is under valued and has a lot to gain we should see this pair lower especially with covid rates also rising in EU. Anything below the line confirms the sell and we have a broken trend line and waiting for the re test of the trend
we had a inverse head and shoulders pattern ( reversal pattern). This created a double top, and now we have a bull flag forming ( continuation pattern ). Looking for a further push higher to previous high
With the DXY currently pulling back and phycological zones being abused, I believe the intentions of the pair is to pullback.
Looking like a bull flag waiting for a breakout and re test of down channel to confirm