FOR NOV 12 - 16 (SHORT)
AUDUSD broke the upper trendline of the downward channel but failed to break the horizontal resistance at 0.7315. Thus, a confluence of bearish divergence was created on MACD and RSI. I will be seeing the pair retested the flip-zone at 0.7111. A break below the flip-zone will put the pair back inside the channel for consolidation around 0.71 and 0.70. But a bounce on the flip-zone will trigger a LONG trade, a potential for bearish shark pattern with the PRZ set around 0.7405 - 0.7508.
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Note
As of this writing, triggers a LONG trade for AUDUSD
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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.