AUDUSD failed to continue lower, bullish reversal price action

15 déc. 2021

Hello traders:

Few weeks ago I was more looking at AUDUSD to continue the bearish trend to the downside.

However once it hits the higher time frame previous lows, price failed to continue lower.

Instead a bullish reversal impulse phase up on the lower time frame,
and formed into a inverse Head and Shoulder reversal. Good signs of bullish price action.

We can now wait for completion of the right shoulder,
and a lower time frame impulse up follow by continuation would be the confirmation for another upside

Thank you

17 déc. 2021

Commentaire

price broke previous high impulsively
but failed to continue higher
reversal impulse down
potential bearish momentum kicking in
no additional bullish view for now