Wait for break and retest of neckline Huge H&S pattern on the weekly/daily timeframes Would be a free fall drop to around the 84 level
Good R:R AUD is currently weak due to yesterdays weak data. BUY STOP blue rectangle is first target
1HR Chart shows a falling wedge already seen two touches on top and bottom pretty strong wedge EMAs are supporting
Resistance around 0.8000 level EMAs slowing down Need retest of broken weekly downtrend.
BUY LIMIT USE PROPER RISK MANAGEMENT Blue horizontal rays are weekly fib retracement levels
Classic LL and LH are being formed Broke major support/resistance line Fibs are being respected
Fibs are being respected (blue lines) Descending trendline has been broken New HH and HLs are being made TP and SL placed according to FIBS and DXY movement
Fibs are being respected Support has not been broken CTL has been broken, wait for retest of trendline and enter short.
Fibs are being respected nicely. EMAs are supporting Possible drop down to trend line before continuation.
200 EMA has come under the actual price showing bullish sentiment Yellow lines are zones where price reacts A break of the top yellow zone will allow further upside to the next upwards trendline Brexit negotiations also affect this trade If negotiations have been completed and accepted then the pound will rally further.
The weekly timeframe prevails as it shows this pair to be making LH and HL maybe this pair will drop down to the black line to form the next LH and also the C in the ABCD pattern. 200 EMA has now become below the actual candles showing possible bull takeover. The 14 and 50 EMAs have also crossed showing potential downside on the daily chart. The H4 chart shows...
Possible H&S pattern forming on the daily chart could see a correction up to see formation of the right shoulder
Descending Trendline Support and Resistance Levels in white