AUD/USD Price Analysis: H1 M-formation holds the bears hostage for the open AUDUSD Technical Analysis
It was stated that the price was carving out a geometrical box, an ascending triangle, in a downtrend which is considered a bearish´´Two-way price action can be expected from here with a bearish bias while on the front-side of the bear trend and below the 200 DMA,´´ the analysis stated with 0.6520 being key in this regard as it guarded a move towards 0.6380.The triangle formation has morphed into a sideways consolidation.
The M-formation is a reversion pattern and the price can be pulled into the neckline for a restest which is yet to play out, so far. However, it is worth noting for the openInformation on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTC, ETH and XRP Price Analysis for March 11Can XRP keep up with the growth of BTC or ETH? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
Read more »
DOGE and LEASH Price Analysis for March 11Can DOGE show the same growth as LEASH? CryptoBaeTrader silkmarketindex Timothy0085 makeitraincryp2
Read more »
XRP Price Analysis for March 12Can the rate of XRP return to the $0.40 mark next week? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie boncryp
Read more »
SHIB Price Analysis for March 12Can bulls keep the rate of SHIB above $0.000010 next week?
Read more »
USD/CHF Price Analysis: Collapses below 20/50-DMAs once bears moved in at the 100-DMAUSD/CHF falls below the confluence of the 20 and 50-day Exponential Moving Averages (EMAs), extending its daily losses to more than 1% Friday. A mixed
Read more »
Analysis: Declining U.S. bank reserves add wrinkle to contentious debt ceiling issueA rapid fall in bank reserves held at the Federal Reserve, coinciding with an expected shortage of U.S. Treasury bills as the debt ceiling battle looms, has raised concerns from investors about potential stress in financial markets.
Read more »