Thoughts Yesterday on the 6th of May, 2020, I released an analysis advising that traders sell the AUDUSD pair due to the formation of a mini double top pattern. In this post, I will be conducting another AUDUSD analysis. A screenshot of the said post can be seen below. Price continued downwards until it reached…
Our Recommendation NZDUSD has been trading in a range since the 27th of March. This is subsequent to a reversal marked by a large double bottom pattern formation. Following the ranging of the pair, another mini double bottom pattern has formed but yet to be confirmed. In addition to the pattern, there has been a…
Thoughts The USDCAD pair reversed from its previous uptrend to a downtrend forming a double top pattern in the process. The reversal started on the 19th of March and the downtrend has persisted until now despite hitting support around the 1.4000 – 1.4010 region. Bouncing around this region, a head and shoulders pattern has formed…
Thoughts The AUDUSD pair being on a downtrend since August 2011, fell below its 11-year low (since October 2008) on the 19th of March 2020. This movement immediately reversed , and has been moving up since then. The price hit a resistance around the 0.6433 region. After some sideways movement, the price broker through the…
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