pls find a 4h chart of the audusd uploaded for your consideration. I have been bleating on and on about this pair falling below .99xx for about a week. So I add more evidence supporting my thoughts
Today the RBA have left rates on hold. The statement following was not hawkish either.
On the chart I have drawn a wedge. A wedge occurs because price tries to go up but there is no impulsiveness in the move. No conviction. We are getting to a point where there is no longer anywhere for price to go but to break out of the wedge. A wegde in an uptrend usually leads to a break down.
BTW the stochastics is in the stratosphere and has turned and crossed too showing weakening momentum to the upside as well. Come on wave5 down. Come on.
So there you have it. Calling for weakness in the ausie dollar
Olu
Today the RBA have left rates on hold. The statement following was not hawkish either.
On the chart I have drawn a wedge. A wedge occurs because price tries to go up but there is no impulsiveness in the move. No conviction. We are getting to a point where there is no longer anywhere for price to go but to break out of the wedge. A wegde in an uptrend usually leads to a break down.
BTW the stochastics is in the stratosphere and has turned and crossed too showing weakening momentum to the upside as well. Come on wave5 down. Come on.
So there you have it. Calling for weakness in the ausie dollar
Olu
If you think you can or cannot do it you are correct