Aussie dollar against the Us dollar retracing down
Updated
Near term trend
The candle respected and closed below the daily res (0.6910) + The price is going up to the confluent value area, monthly res (0.7050) to make higher high.
Short term trend
Bearish engulfing candlestick pattern + the price has made higher high, it is going down to the daily sup (0.6855) to make higher low.
mini-short term trend
The price might retrace up before it could go down to the daily sup (0.6855). The price has made a lower low, it is going up to the daily res (0.6910) to make a lower high then it will go down to the daily sup (0.6855).
Signal
Bearish
The candle respected and closed below the daily res (0.6910) + The price is going up to the confluent value area, monthly res (0.7050) to make higher high.
Short term trend
Bearish engulfing candlestick pattern + the price has made higher high, it is going down to the daily sup (0.6855) to make higher low.
mini-short term trend
The price might retrace up before it could go down to the daily sup (0.6855). The price has made a lower low, it is going up to the daily res (0.6910) to make a lower high then it will go down to the daily sup (0.6855).
Signal
Bearish
Trade closed: target reached
The trade played well according to my predictions. Now i am waiting to confirm the bullish move.
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