AUD/USD (AN OUTLOOK) 16/May/2018

AUD/USD (AN OUTLOOK) 16/May/2018

On May 16, 2018, Posted by , In Uncategorized, By , , With No Comments


AUD/USD an outlook. Analysis is done one a monthly chart on this one. Expecting that the pair will be bearish for the most part this year with projections towards the 0.6346 level and even lower. This is simply because, it broke the major trendline, (ascending trendline) and for a brief period was ranging or consolidating (which then formed a bearish flag pattern). Expecting a leg out of the same length as the leg in. Which now points towards the 0.5493 level. A nice selling opportunity as a position trade also keep in mind that there is a head and shoulders on the monthly which also points to the same Take profit as the bearish flag pattern.>>>>Posted 17:41>>King Yonela>>>>-16/May/2018…..Analysis included

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