Bearish Continuation Pattern for AUDUSD back for Parity
Weekly Chart reveals more bearish candles and there is 1 particular big marubuzo bear candle that stands out marked by the 1st red down arrow with a box highlight.
As commonly known marubuzo is a continuation pattern, observe how the previous 3 weeks was bullish and the single marubuzo trashed the 3 weeks bulls bringing AUDUSD to below parity.
This week has just started, observe the 2nd red arrow and the classic 3 bullish candlestick pattern within this marubuzo candle. It seems that shorts are in the cards and we might see AUD going below parity again.
More about candlstick paterns can be found on wiki en.wikipedia.org/wiki/Candlestick_pattern.
As commonly known marubuzo is a continuation pattern, observe how the previous 3 weeks was bullish and the single marubuzo trashed the 3 weeks bulls bringing AUDUSD to below parity.
This week has just started, observe the 2nd red arrow and the classic 3 bullish candlestick pattern within this marubuzo candle. It seems that shorts are in the cards and we might see AUD going below parity again.
More about candlstick paterns can be found on wiki en.wikipedia.org/wiki/Candlestick_pattern.
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.