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AUD/SGD towards the lower border of a weekly channel

AdamFx42 Przesłano 12 Paź jako Analiza AUD/SGD, Cel: 1.0911, Data: 1 z Grudzień, 12:00 GMT  w #Technical analysis #Weekly Channel #AUD/SGD #Fibonacci Expansion Level #Bearish Action
Aud/Sgd to me - has a beautiful technical setup,
all seems clear and price action is at work and speaks for itself
The weekly bearish channel the pair is in shows a strong bounce from the upper border
Price has broken through and retested the 61.8% fibonacci expansion level of the last weekly move down
The fast move down is supported by a bearish RSI, which should lead price further down to the lower border of the channel
Aud/Sgd weekly chart
On the daily chart we see that the 61.8% fibonacci ex…
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2 Komentarze
AdamFx42 avatar
AdamFx42 19 Paź

Price has held above 1.10 for now - this is to be expected, as it is a large psychological number to break

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AdamFx42 5 Lis

Price moving towards the lower border of the weekly channel - see if it breaks

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Inverted H&S in AUD/SGD

AdamFx42 Przesłano 25 Sie jako Analiza AUD/SGD, Cel: 1.1540, Data: 1 z Październik, 12:00 GMT  w #Technical analysis #AUD/SGD #Daily Channel #Weekly Inverted Head And Shoulders
I detect the possible forming of a weekly Head and Shoulders pattern in Aud/Sgd,
as we can see here on the weekly chart:
Aud/Sgd weekly chart
On the daily chart we see that price action has just broken out of a daily bearish channel
and for the second shoulder on the weekly chart to form
the price will have to fall back inside the channel:
Aud/Sgd daily chart
If the price remains outside the channel down there is still the chance
that the fibonacci expansion area of last move down leads the pair…
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3 Komentarze
AdamFx42 avatar
AdamFx42 3 Wrz

Not much change in the price yet - it has moved slightly higher,
need reversal, but pattern will not be easily cancelled on weekly chart,
not until 1.18, so there is plenty of time

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AdamFx42 11 Wrz

Price is exactly on my prediction now  :-)  1.1540
it looks to be turning down to form the second shoulder
Price has fell back inside daily channel as I predicted might happen to complete weekly pattern

AdamFx42 avatar
AdamFx42 16 Wrz

Price lower now - need Aud to stregnthen a bit

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