AUDUSD Symmetrical Triangle
The AUDUSD is in a multi-year Symmetrical Triangle, which commenced in October 22.
Wave - There have been two waves up and two waves down. Both waves down have been 886 Fibonacci retracements. In mid- July 2024 a false break took place and price has re-entered this consolidation.
Volatility - The selling pressure has been intense, with price free falling in the last 2 weeks. It was a sustained move, rather than volatile, as the Daily ATR was only 40 pips (in high volatility it can be 120).
Momentum - This is further evidenced by the rapid decline of the RSI from OB to OS.
Candlesticks - The last candle on Friday was an inverted hammer. The buyers have returned after 9 straight days of printing lower highs and lower lows. It's whether the buyers step in early next week and put a holt to this downturn ( Bullish Engulfing Candle) or not ( Bearish Candle or Doji) .
For this pattern to hold, price needs to move again with an 886 correction to the supporting
trendline at .6415.
Wave - There have been two waves up and two waves down. Both waves down have been 886 Fibonacci retracements. In mid- July 2024 a false break took place and price has re-entered this consolidation.
Volatility - The selling pressure has been intense, with price free falling in the last 2 weeks. It was a sustained move, rather than volatile, as the Daily ATR was only 40 pips (in high volatility it can be 120).
Momentum - This is further evidenced by the rapid decline of the RSI from OB to OS.
Candlesticks - The last candle on Friday was an inverted hammer. The buyers have returned after 9 straight days of printing lower highs and lower lows. It's whether the buyers step in early next week and put a holt to this downturn ( Bullish Engulfing Candle) or not ( Bearish Candle or Doji) .
For this pattern to hold, price needs to move again with an 886 correction to the supporting
trendline at .6415.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.