AUD/USD: Long term Trend - short, medium term Choppy and short term down move
Price closed below level of support at 0.7488 - negative signal for possible move lower and break of support
Double top at level of 0.7739 and break below the neckline - the figure is activated.
Indicators in negative territory: CCI(50) below -100, as CCI(14) moves below -100 - strong negative sentiment, possible new impulse to the downside.
Stop loss at 0.568
Alternative scenario: If the price moves above the previous bar, will give bullish signal, in situation like this one, the reversal bar becomes stronger signal for long.
Stefan D. Angelov - Head of Stocks trading
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