Forex forecast AUD / USD Our expectations:
Upward Trend and Trend reversal formation H & S
Break below the neckline - negative signal
CCI (50) below 0 - negative signal
Price below 50SMA - Negative signal
For a better price, we can wait for news the news at 04:30 for Employment Change from Australia. High volatility is expected and we will be able to position ourselves close to the test of the break of the neckline.
SL: 0.8052
Alternative scenario: If the data goes well beyond expectations, it is likely that the formation will be spoiled and a strong upward impulse will follow.
Junior Trader Stefan Panteleev
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