AUDUSD: Rising Wedge for Falling
Since the price came down from 0.7245, traders started to be confused, and we can see that from the volume.
After the falling, the price started to form the rising wedge, which could be a bearish signal.
The Bollinger Bands shrunk after the falling, which led to the falling wedge. Now, the Bands do not show too many signals.
The RSI seems to go down a little bit, however, the wedge is still forming, this could not be the signal for the end of the wedge.
Let’s wait for more signals
After the falling, the price started to form the rising wedge, which could be a bearish signal.
The Bollinger Bands shrunk after the falling, which led to the falling wedge. Now, the Bands do not show too many signals.
The RSI seems to go down a little bit, however, the wedge is still forming, this could not be the signal for the end of the wedge.
Let’s wait for more signals
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.