This trade steup on AUD/USD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 0.6529.
Related Posts
A Rising Wedge has formed, EURJPY is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
EURJPY is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of…
NZDUSD moves higher to 0.5895 in the last 8 days.
For those of you that don’t believe in trends, this may be an opportunity to take advantage of…
After experiencing a 3.45% bullish move in the space of 9 days, nobody knows where GBPUSD is headed.
An unexpected large move has occurred on GBPUSD Daily chart beginning at 1.27331 and ending at 1.317255. Is…