The AUD/USD pair has been trading in a descending channel with a series of lower highs and lower lows, which suggests that the overall market sentiment is bearish. The most recent price action has seen the price drop to the daily support level at 0.68700, and a retracement to the 50% Fibonacci retracement level of the previous bullish move at the round level 0.70000
As the price failed to break above the resistance level , it retreated back to the support level. The failure to break above the resistance level and the formation of lower highs and lower lows indicate that the sellers are in control of the market, and the price is likely to continue its downward trend.
If the price breaks below the support level at 0.68700, it would confirm the bearish bias in the market and signal a potential sell opportunity. Traders could look for a break below this level and enter a short position with a stop-loss order according to the Plancton's CPS rules.
As the price failed to break above the resistance level , it retreated back to the support level. The failure to break above the resistance level and the formation of lower highs and lower lows indicate that the sellers are in control of the market, and the price is likely to continue its downward trend.
If the price breaks below the support level at 0.68700, it would confirm the bearish bias in the market and signal a potential sell opportunity. Traders could look for a break below this level and enter a short position with a stop-loss order according to the Plancton's CPS rules.
評論:
as expected
評論:
seems like a perfect test of the lower trendline
評論:
increasing bearish pressure
評論:
a new lower low here
評論:
nice reaction over the support area
評論:
creating the higher low
評論:
test of the 50% with a spike to the 0.618 Fibo and a possible lower low ahead
評論:
possible bear flag here
評論:
break of the flag and 195 pips delivered
評論:
new recent low and almost a 4% delivered
評論:
current possible scenario
評論:
possible retest of the resistance soon
評論:
price retraced as expected, waiting for a new possible inversion
評論:
the price moved exactly as expected
