See these previoius posts:
Reasons: 1) It is at %23.6 major Fibonacci level. 2) 2 Major pitchfork parallels acting as strong resistance for the last 3 years. 3) Using cyclic lines pattern the previous key lines were two key pivotal points 4) It is overbought The bearish move would be validated by another significant red candle following this pin bar. On the daily time frame, a close...
Reasons: 1) Break of the triangular 2) Bounce off the 14 and 21 EMA 3) Bounce off the major monthly pitchfork 4) Bounce off the major monthly Fibonacci
Using mirrored bars pattern, the pair has just completed the uptrend. Replicating that again, the pair is heading down. Further confirmation was also given by cyclic lines pattern as 2 major cycles have just completed too. However, there is still room to get to the upper pitchfork parallel.
A bearish pin bar with a close below 0.88514 (previous weekly low) validates bearish move. First target 0.87083 (61.8% major Fibonacci).
AUDUSD is at a pivotal point today because of the following reasons: 1) It is at %23.6 major Fibonacci level. 2) 2 Major pitchfork parallels acting as strong resistance for the last 3 years. 3) Using cyclic lines pattern the previous key lines were two key pivotal points 4) It is overbought A close above 0.76559 is required to confirm the bullish move. The...
Bullish GBPUSD for the first 9 months of 2018 based on cyclic time pattern