**Monthly Chart**
AUDUSD has been in a long-term downward trend for the last two years. If we draw two lines upper and lower of the candles we will easily identify a downward channel.
Last month candle closed bullish engulfing after it tested the low at around 0.62700 level.
**Weekly Chart**
Last week candle closed as a Manipulation candle suggesting a resumption of the move lower. I will be looking for opportunities to sell this pair this week.
**Daily Chart**
The pair had Ringed High formation on 04th Dec followed by Key reversal on 12 Dec. These patterns can be only seen on Bar Charts. If we move to the Candlestick chart then we can see the same pattern on 04th Dec called as Manipulation candle near the supply zone. For all this evidence, I will be looking to short AUDUSD.
AUDUSD has been in a long-term downward trend for the last two years. If we draw two lines upper and lower of the candles we will easily identify a downward channel.
Last month candle closed bullish engulfing after it tested the low at around 0.62700 level.
**Weekly Chart**
Last week candle closed as a Manipulation candle suggesting a resumption of the move lower. I will be looking for opportunities to sell this pair this week.
**Daily Chart**
The pair had Ringed High formation on 04th Dec followed by Key reversal on 12 Dec. These patterns can be only seen on Bar Charts. If we move to the Candlestick chart then we can see the same pattern on 04th Dec called as Manipulation candle near the supply zone. For all this evidence, I will be looking to short AUDUSD.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.