AUDUSD Possible Head & Shoulders pattern?
AUDUSD can be seen potentially to be creating a diagonal head & shoulders pattern on the daily. There has been a shift in momentum on this pair recently with bears looking like they have had enough for now.
Buyers are in the market and have been showing signs of divergence, with a possible continuation of a retrace upwards through the weekly trend.
TP3 is at 38.2 retrace. All other profit targets are retests of previous highs.
Buyers are in the market and have been showing signs of divergence, with a possible continuation of a retrace upwards through the weekly trend.
TP3 is at 38.2 retrace. All other profit targets are retests of previous highs.
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