AUDUSD Last week fall until the lowest price on 2018, and close on friday as an Engulfing candle.
Confluence on AUDUSD:
1. Daily candle close as engulfing candle.
2. Broke the downtrendline.
3. Price rejecting 50 fibs level on higher timeframe.
4. On the h1 timeframe possibly h&s pattern.
The scenario I will take a trade if price go to 50 fibs level on h1 timeframe as also make right shoulder of h&s pattern (Aggresive).
Confluence on AUDUSD:
1. Daily candle close as engulfing candle.
2. Broke the downtrendline.
3. Price rejecting 50 fibs level on higher timeframe.
4. On the h1 timeframe possibly h&s pattern.
The scenario I will take a trade if price go to 50 fibs level on h1 timeframe as also make right shoulder of h&s pattern (Aggresive).