AUDUSD H&S
The daily chart is showing a clear head and shoulders pattern
Price is static around the 0.68400 area. A clear break below the neck line would be a good entry on a smaller time frame. Expect price to retest before continuing down
Note, the Daily RSI is still a bullish trend. I would like to see the bright green trend line broken first. The 4hr RSI has a descending trendline, Price is not yet over sold.
1hr time frame is showing price at an small area of support. Price is forming a bullish pin bar. I suspect price may try a small rally before continuing down the current parallel channel / trendline
Price is static around the 0.68400 area. A clear break below the neck line would be a good entry on a smaller time frame. Expect price to retest before continuing down
Note, the Daily RSI is still a bullish trend. I would like to see the bright green trend line broken first. The 4hr RSI has a descending trendline, Price is not yet over sold.
1hr time frame is showing price at an small area of support. Price is forming a bullish pin bar. I suspect price may try a small rally before continuing down the current parallel channel / trendline
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