AUD/USD - Breaks Descending Channel, Upside Ahead?
OUTLOOK: WEEKLY CHART
AUD/USD broke through the weekly trendline (resistance level) yesterday (daily chart) after seeing the Aussie trapped for over 15+ weeks inside of its descending channel.
Forming on the weekly chart is a three inside up candlestick pattern (highlighted blue box) which if it closes above 0.71700 this week, will prove an ideal LONG entry signal for next week's market open.
NOTE: Should this week close above key daily resistance turned support level around 0.71708, expect the pattern in play.
CONCLUSION: NEUTRAL - PENDING WEEKLY CLOSE.
AUD/USD broke through the weekly trendline (resistance level) yesterday (daily chart) after seeing the Aussie trapped for over 15+ weeks inside of its descending channel.
Forming on the weekly chart is a three inside up candlestick pattern (highlighted blue box) which if it closes above 0.71700 this week, will prove an ideal LONG entry signal for next week's market open.
NOTE: Should this week close above key daily resistance turned support level around 0.71708, expect the pattern in play.
CONCLUSION: NEUTRAL - PENDING WEEKLY CLOSE.
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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.