AUDUSD: Potential Head & Shoulders Pattern Forming?
AUDUSD might be setting up for a head and shoulders pattern. Looking at the price action, the structure suggests the possibility of this pattern forming, but we still need the chart to complete the right shoulder for confirmation.
If the pattern plays out and the neckline is broken, we could see a bearish move ahead. Until then, patience is key—let's wait for the right setup to develop.
What’s your view on this? Do you think the pattern will complete, or do you see a different setup? Let’s discuss in the comments!
If the pattern plays out and the neckline is broken, we could see a bearish move ahead. Until then, patience is key—let's wait for the right setup to develop.
What’s your view on this? Do you think the pattern will complete, or do you see a different setup? Let’s discuss in the comments!
Note
The expected head and shoulders pattern on AUDUSD didn’t play out. However, price action has now broken through the support level.
I’m watching closely to see if this broken support turns into resistance on a retest. If price action confirms bearish momentum at the retest, I’ll plan to hop on a sell. Patience is key—waiting for the right entry will be crucial here.
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