Nearly a month of bearish price action, various indicators suggest the bullish sentiment will be in play and it appears to have formed a double bottom- Price will return to the major zone above
Expecting for news to push price back into the zone-- after a month of bears the new month should take price back to the 50% Fib zone with a possibility of continuation to the last major zone above...
After a month of bears- indicators suggest the bulls will take over in Nov. we can expect a 50% correction with a good possibility of returning to the last major zone above...
I'm thinking after the bearish push from the 52 week high there will be a slight retraction of price before a continuation to distant low-- Feel free to comment or critique--- Again this is just an idea not investment/financial advice--
AUDUSD has recently hit the 52 week high and appears to have formed a bearish pennant- Price may edge higher before a large drop- Trading is risky business and this analysis is not meant for investment purposes- Thanks for viewing
