Bull Flag - Head & Shoulder Formation
Hello Traders,
We are currently watching this pair for a potential bull flag, and a break higher towards the shoulder line.
Major resistance found at 1.6420. We will look to enter a sell position from the shoulder line with a long term target of 1.5900.
The RBA will cut interest rates tomorrow therefore expect volatility on all AUD pairs.
Short term we are expecting further upside, however long term we may see the pair break lower than the neck line of the head and shoulders pattern.
Please let us know your thoughts on the set up,
forexstoreau.com
We are currently watching this pair for a potential bull flag, and a break higher towards the shoulder line.
Major resistance found at 1.6420. We will look to enter a sell position from the shoulder line with a long term target of 1.5900.
The RBA will cut interest rates tomorrow therefore expect volatility on all AUD pairs.
Short term we are expecting further upside, however long term we may see the pair break lower than the neck line of the head and shoulders pattern.
Please let us know your thoughts on the set up,
forexstoreau.com
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