I am
examining the AUD/USD daily and weekly time-frames and I am considering whether
this might be the end of the move to the upside. The pair has been moving to the upside since the end of May this year in a very choppy manner,
and last Thursday it formed a very clear doji candlestick on the daily
time-frame. What is more, AUD/USD has formed a hammer candlestick and a
shooting star candlestick on the weekly time-frame for the past two weeks there
is definitely a signal that there is an impending move to the downside. If that
signal is valid the pair’s first target will likely be around 0.7570, and a
breakout below that level would lead to a further drop towards 0.7420.
There is space for a good retracement.
ReplyDeleteGreat analysis, thank you for sharing!
ReplyDeleteIt could retrace from this point.
ReplyDeleteInsightful article.
ReplyDelete