AUDUSD; Bullish Breakout Possible

This pair is very prone to a massive bullish breakout. After completion of a huge bullish Inverted AB=CD pattern with almost 350 pips for each leg at the lower end of a descending channel, price is seemingly carving out a Head and Shoulders pattern and also a Gartley pattern.

Break up of the recent swing high at 0.7140 will be accompanied by a breakout of the channel as well, paving the way for bulls to target the 0.7380 top again.

Good luck,

Ali Sharif Azadeh, CFTe

Yorum:

Long triggered. Good luck,