This might be an interesting structure.
After going down the Aussie formed kind of rising wedge (blue lines), that evolved to kind of a channel upwards.
The wedge was broken downwards and might go on to last touch on lower wedge line.
Otherwise the channel seems to be in the way with its lower line.
The Fiblevels seems to my quite strong.
My guess: It goes down to 0.50 Fiblevel (false breakout of channel, two steps in Fiblevels), might touch the 0.50 Fiblevel with the candlewig and then retrace to 1 Fiblevel. i could even imagine, that Aussie will outperform the movement close to Fibextension, which is also 0.5 Fib retracement from September 14 and it has already run a long way down.
After going down the Aussie formed kind of rising wedge (blue lines), that evolved to kind of a channel upwards.
The wedge was broken downwards and might go on to last touch on lower wedge line.
Otherwise the channel seems to be in the way with its lower line.
The Fiblevels seems to my quite strong.
My guess: It goes down to 0.50 Fiblevel (false breakout of channel, two steps in Fiblevels), might touch the 0.50 Fiblevel with the candlewig and then retrace to 1 Fiblevel. i could even imagine, that Aussie will outperform the movement close to Fibextension, which is also 0.5 Fib retracement from September 14 and it has already run a long way down.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.