UnknownUnicorn7338697

UnknownUnicorn7338697

As predicted AUD/USD is set for a huge decline. As per my analysis on 11th December, I was waiting for a bearish engulfing after a re-test of the neckline. Given the risk off sentiment in the equity markets, AUD is set to further decline and complete the bearish engulfing pattern on the daily chart. Setting up a perfect 7:1 profit to loss ratio. Here are the...

UnknownUnicorn7338697

The critical level as labelled has been an important support/resistance since 2004, 2005, 2008,2009,2015,2016,2017,2018,2021. A beautiful head and shoulder pattern was set up since the July 2021. A break below the neckline should have a theoretical price target around 1.21600. However, S1 held strong leading to further upside. The significance of the neckline...

UnknownUnicorn7338697

A perfect set up is being displayed in the AUD/USD chart The set up started more than a year ago in July 2020. Forming a head and shoulder with almost identical shoulders. Everything in the set up has been going perfectly, this pattern is also obvious in the weekly chart. It is typical for the bars to re-test the neckline which adds more credibility to the...

UnknownUnicorn7338697

Starting this year, a declining channel has been set up as seen by the maroon coloured lines. In Dec, we broke below this channel displaying a more bearish sentiment. A very strong support lies around 1.31836, this is a multi-year support/resistance from 2017,2018, 2019 & 2020 Firstly a retest and rejection of the channel will be a great first indication of...