AUDUSD Made A Double Bottom at a Critical Support Zone
Price is sitting at key support, which is in confluence with 61.8 Fibonacci retracement. Price has also made a double bottom formation at the key confluence zone. Price should resume higher from or near the current level. The breach of the confirmation level indicated on the chart will further confirm the bullish setup.
If the price moves above 0.6800 confirmation level, it would have broken the high of wave iv of an ending diagonal pattern and a descending trendline, which is a strong signal for trend resumption.
What's your thought on AUDUSD? Kindly let me know in the comment.
Thanks for reading!
Veejahbee.
If the price moves above 0.6800 confirmation level, it would have broken the high of wave iv of an ending diagonal pattern and a descending trendline, which is a strong signal for trend resumption.
What's your thought on AUDUSD? Kindly let me know in the comment.
Thanks for reading!
Veejahbee.
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