AUD/USD has
been moving to the downside in a relatively choppy manner ever since it bounced
off from the resistance at 0.8135 and it has been forming yet another
retracement to the upside for the past two weeks or so. That movement may be at
end, however, because the pair reached the resistance at 0.7780, which
coincides with the (MA)89 indicator on the daily time-frame and formed several
very telling candlesticks on the daily time-frame below that level. Namely, the
pair has formed a pair of spinning top candlesticks and a very impressive
shooting star candlestick. Even though AUD/USD is currently still testing the
indicator there will probably be a new move to the downside towards the last low at
0.7640.
The pair is looking for direction.
ReplyDeleteVery good article, thank you for sharing!
ReplyDeleteThe pair is consolidating on the low.
ReplyDelete