AUD/USD pair has formed a head and shoulders pattern on the 4-hour timeframe, indicating a potential trend reversal. A short entry will be executed upon a retest of the neckline on the lower timeframe. The first target is set at a 1:2 risk-reward ratio, and the second target is at the 4-hour demand level. Who else is watching AUD/USD?
Given EU's bullish rally on the 4 hour, we are seeing an inevitable bearish retracement. I have highlighted two areas of interest where price may look to bounce off and continue its bullish push higher(if it so wishes). If price breaks below the lower POI I would be interested in looking to go short.
EURUSD Today's Signal. Best & Regards, Muhammad Raheel Khan Forex Pharmacy.
⛔️ Today is a fairly important day for the EURUSD. This is due to the release of USD CPI DATA. So it's a very HIGH IMPACT NEWS. We need to be vigilant about that. Currently, the EURO has been hit hard by the USD. This is because some of the UPDATES coming from the EURO ZONE are quite NEGATIVE. But even if USD CPI is NEGATIVE, its impact will largely be on...