The H1 uptrend was broken.
After the breakout, we put a Fibonacci correction to determine where the price will adjust.
In this way, we determine the area from which we expect a resumption of downward movement.
There is already a break in the area, which confirms the initial analysis.
With Fibonacci extension we determine the possible profits.
As if to complete the analysis, we should see a break at the previous bottom of 0.6260
This is how we made analysis of AUDUSD.
Ask your questions in the comments.
After the breakout, we put a Fibonacci correction to determine where the price will adjust.
In this way, we determine the area from which we expect a resumption of downward movement.
There is already a break in the area, which confirms the initial analysis.
With Fibonacci extension we determine the possible profits.
As if to complete the analysis, we should see a break at the previous bottom of 0.6260
This is how we made analysis of AUDUSD.
Ask your questions in the comments.
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💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade