AUDUSD Short

٢ مايو ٢٠٢١

We see a head and shoulders hat has developed on AUDUSD. A short all the way to 0.71 is expected. As extra confluence, the dollar index has started to turn upwards, indicating dollar strength. The five waves going up have been completed and the A and B waves have been completed. We are currently in the C wave. A bat pattern has been seen to confirm that we have downwards momentum developing on AUDUSD. The right should also stopped exactly where the left shoulder stopped. We may see a larger harmonic pattern develop if we consider the X point to start from the head. So a break and retest of 0.77 will confirm the small bat pattern