UPDATE MOVE OF THE AUD/USD PAIR
Look up;
1. We are on a strong downtrend with a dynamic daily resistance line.
2. Market moved dropped. then made a 3 wave movement before dropping further.
3. After breakout of the base area, the market is returning back to test the previous area before dropping further to complete the move.
4. such large move suggests strongly that there is another leg preparing to drop.
Why do i suggest a drop? Look at the up movement. its not strong as a downtrend. it looks to me as a bearish flag; its also choppy and not smooth. suggesting that its a pullback.
This is my final analysis on this pair. it could happen over the next few days or week.
Trade Smart. Manage Risk. Comment down below in case you need us to have a further chat. Cheers!
1. We are on a strong downtrend with a dynamic daily resistance line.
2. Market moved dropped. then made a 3 wave movement before dropping further.
3. After breakout of the base area, the market is returning back to test the previous area before dropping further to complete the move.
4. such large move suggests strongly that there is another leg preparing to drop.
Why do i suggest a drop? Look at the up movement. its not strong as a downtrend. it looks to me as a bearish flag; its also choppy and not smooth. suggesting that its a pullback.
This is my final analysis on this pair. it could happen over the next few days or week.
Trade Smart. Manage Risk. Comment down below in case you need us to have a further chat. Cheers!
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