Is Aussie Dollar finally in trouble?
In recent weeks we saw AUDNZD trade in a range between 1.08 and 1.067 after a big move from 1.108 highs. This consolidation formed a potential bearish rectangle pattern which is a continuation pattern formed after a big move to the downside.
We then saw the market finally breakdown to breach the range support, then came back to retest it as resistance and closed as a bearish engulfing candle on the H4 timeframe. This also lined up with the 50% fib retracement.
Could we now see a second leg that sees the bearish rectangle play out to its target area of 1.04?
One for the radar!
KG
We then saw the market finally breakdown to breach the range support, then came back to retest it as resistance and closed as a bearish engulfing candle on the H4 timeframe. This also lined up with the 50% fib retracement.
Could we now see a second leg that sees the bearish rectangle play out to its target area of 1.04?
One for the radar!
KG
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.