The confluences are clear. Broken the head/shoulder neck line and trendline. Retested the current resistance and formed a bearish pin bar in the 4hour. Price is bearish for the short term. However, take note of the major daily trendline which acts as resistance. We could see a rally when price approaches that level. In contrast, and a break below that level, we...
This pair has been on a terrible tumble for a long time! Could it have finally come to a stop now at the 69 cents level? In my previous most recent analysis on this pair I posted 10 days ago (see Related Ideas: "ANALYSIS: AUDUSD: Reversal? Or More Downside To Go?"), I showed that the wave (v) should've ended at or near the 70 cents level and that if 70 cents did...
