AUD ready to nose dive?
Last week and last month closed below 66c which is a key level and we've started to see the pullback to 66c, to go and fill the remaining institutional orders.
This will not only be retesting that resistance which was once strong support, but also the broken bear flag and the broken head and shoulders neckline which all forms a massive matrix of confluence for a high probability setup if we find last sellers and bearish rejection there. This could make a serious run to 62c which not only is the head and shoulders target, but also the bear flag target and also the ABCD pattern target.
One for the radar
This will not only be retesting that resistance which was once strong support, but also the broken bear flag and the broken head and shoulders neckline which all forms a massive matrix of confluence for a high probability setup if we find last sellers and bearish rejection there. This could make a serious run to 62c which not only is the head and shoulders target, but also the bear flag target and also the ABCD pattern target.
One for the radar
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
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.
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
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.