As predicted in our previous analysis, AUDUSD has just failed to break the Potential Reversal Zone which we view as bearish.
We expect price to continue to fall in the long-term, with minor bounces most likely at the former downtrend (dotted green line) and S1, which may look to retest the Potential Reversal Zone.
Look out for an M or Head & Shoulders Pattern as confirmation, or if price breaks S1.
Trading Ideas:
Trade the range (S1 - R1)
Trade a breakout below S1
Trade a breakout above R1
Trade an M or Head & Shoulders Pattern
We expect price to continue to fall in the long-term, with minor bounces most likely at the former downtrend (dotted green line) and S1, which may look to retest the Potential Reversal Zone.
Look out for an M or Head & Shoulders Pattern as confirmation, or if price breaks S1.
Trading Ideas:
Trade the range (S1 - R1)
Trade a breakout below S1
Trade a breakout above R1
Trade an M or Head & Shoulders Pattern
