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  • AUDUSD: Watch for These Bearish Triggers

    From dailypriceaction.com

    The Australian dollar has performed beautifully so far this week. I mentioned this ascending channel on March 28th and again in Saturday’s weekly forex forecast, which AUDUSD is so far respecting perfectly. If we contextualize this channel with the downtrend that began in February, it looks like a bear flag pattern. However, as mentioned last week, we can’t call it a bear flag without a higher time frame close below channel support. Until then, it’s simply an equidistant channel. You may have noticed how AUDUSD has “hinged” around 0.6725 this week, a level also discussed on Saturday. If today’s session ... (full story)

I think it is more about the bearish continuation 4hr / Daily H&S being set up at he moment. It is possible there maybe a channel false BO topside to bring that right should up a bit more (and to provide liquidity for the get go) before the real action begins.
As the lights go by so too do the shadows move
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  • Posted: Apr 5, 2023 12:34pm
  • Submitted by:
     dailypa
    Category: Technical Analysis
    Comments: 1  /  Views: 1,013

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