AUD/USD-Daily overview

2020年11月11日

Hello everyone!

-On a daily chart, we can see that the price tested and rejected a strong resistance area within 5 days,...

-We can see that the bulls are losing momentum so we may expect that the bears are going to take some control.

-We can see a nice Doji pattern in the resistance zone and that is a nice sign that trend is going to change.

-The Stochastic indicator is showing us an overbought area so that is an extra sign that we want to look for taking short positions on this pair.

-Before taking action in Forex, please check the economic calendar and currency strength meter.

-WHAT DO YOU THINK ABOUT THIS SETUP?
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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.