Price retesting area of consolidation. COT perspective showing AUD getting weaker.
Inverted H&S looks better in weekly tf. If COT is followed notice 6,226 AUD long positions were closed in the last report 12/1/2020. GBP still bearish but 6,249 long positions were added. In my opinion head and shoulders patterns are very predictable in bigger time frames.
Trend continuation, after retracement to 0.618. DXY weakness.
A lot of events this week could manipulate the price in either direction. Technically this is what I see: daily retracement to 0.618 and a H&S pattern more visible in the 1H tf.
Double top. Last 2 weeks bearish move expecting lower prices. Area of interest to enter on a sell limit due to volume profile.
Waiting on the price to retest high volume area. All depends on DXY strength and election week.
Decline of price from last week. Possible continuation spiking the price to grab liquidity and drive the price lower to high volume area.
Monthly and weekly tf show a downtrend. Just waiting a reaction on the daily resistance zone.
Waiting on a breakout of the consolidation area. Or pin bars to the lowest daily support. Volume profile showing higher price on the POC.
FTSE is the lagging world market. Currently in a bearish daily channel. Waiting on a bearish closed candle 4H or Daily. Previous monthly and weekly candles closed bearish.
Waiting for any candle pattern to confirm daily rejection and continue weekly downtrend.
Waiting on a 4H and Daily breakouts. Last very strong daily candle.
Waiting on a 4H breakout consolidation, plus daily resistance and retest of the H&S on the daily tf.