Madfx007

Madfx007

The close of Aussie Dollar’s present H4 candle can give us a new market direction.

Madfx007

Aussie dollar has been consolidating and forming a triangular pattern. We trade this pattern by watching for a breakout below or above. If a breakout occurs above, be mindful of the 0.7300 level.

Madfx007

Price is forming a rising wedge. This signals that price might break to the downside and test the trendling support again.

Madfx007

Aussie dollar has been on a short since the beginning of the week. I can see a breakout of a head and shoulder pattern which signals a sell for me.

Madfx007

I know last week was bullish, but we can’t rule out the idea of a short from 0.74000

Madfx007

Here's what i actually see on the aususd chart. I'd appreciate any opposing bias.

Madfx007

AUDCAD broke out of a trendline and the consolidated, it broke out of the consolidation (bearish) with further consolidation and another break out. Now its retesting the last consolidation area.