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AUDUSD a monthly close below 0.8100 would confirm a top


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Monthly: In a large expanding wedge formation that has eventual bias to break lower.

 

Weekly:  in a corrective channel formation. Rallies close to 0.8100 find sellers. Could also be seen as an Ending Wedge. Higher highs seen at 0.8205

ig audusd w.png

 

Daily: Possible ‘double top’. The most important factor in this timeframe is bespoke resistance at 0.8100

 

Intraday (15-MINUTES) – Could possibly be seen as a bearish five wave pattern to the downside. We are using a short-term set up for a medium-term call.

IG AUDUSD 15.png

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

 

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Guest oilfxpro

What was the original trade entry , stop and target ?It went to 0.8112. Should you not have waited for a break of the up trend line, and confirmation from the trend line break on the dailies?Now it looks like a trade!

 

aud.jpg

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