Streamlining The Aussie
Good Evening Dynamic Traders!
Today's analysis is designed to demonstrate that simplicity often delivers the greatest rewards.
Below is the monthly chart for the AUD USD pair.
The trend reversal in July last year has confirmed the new downward assault.
The bearish flag formation together with the clear breach of the value index reinforces the decline.
AUDUSD monthly chart Advanced Get
The daily chart (below) displays a descending wedge development in play.
Price is currently sealed at a round number.
Following the friendly trend and a break of the support, there is a high probability in favour of price flowing towards the next zero at 0.6, a cool 500 pips away.
Dynamic Traders may wish to open their tool box for a fervent analysis, but do not negate the power of a basic breakdown.
A simple scan of larger time frames can offer great clarity, and can often become the guiding force towards a rewarding trade.
Today's analysis is designed to demonstrate that simplicity often delivers the greatest rewards.
Below is the monthly chart for the AUD USD pair.
The trend reversal in July last year has confirmed the new downward assault.
The bearish flag formation together with the clear breach of the value index reinforces the decline.
AUDUSD monthly chart Advanced Get
The daily chart (below) displays a descending wedge development in play.
Price is currently sealed at a round number.
Following the friendly trend and a break of the support, there is a high probability in favour of price flowing towards the next zero at 0.6, a cool 500 pips away.
Dynamic Traders may wish to open their tool box for a fervent analysis, but do not negate the power of a basic breakdown.
A simple scan of larger time frames can offer great clarity, and can often become the guiding force towards a rewarding trade.
AUDUSD daily chart Advanced Get
Modest Trading!
Saba Jackson
Labels: audusd
posted by Saba Jackson @ 7:03 PM
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