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AUD/USD: Signal for a possible decline

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AUD/USD:

Our Expectations: The chart made a double top, breached and tested, where we expect decline.

Alternative scenario: If the price goes over the top of the previous bar, it is possible to see new rising movement, wich will deny this forecast.

Commentary: On the test of the break line we have a price action - "engulfing bar", which gives us a strong bearish signal.

50/200 SMA : 50 crosses 200 from top to bottom - negative signal

CCI(50) remains under 0 - negative territory

Trader I. Ivanov


 Varchev Traders

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