AUDUSD M15: The chart confirms the formation of the Head and Shoulders pattern

  • 2 weeks ago
  • Signals
  • 1 minute Read

Analysis of the AUDUSD chart unveils signs of weakness in the upward movement.
A Head and Shoulders pattern has been formed. As part of the development of this reversal pattern, a downward trend is expected to develop.
At the same time, the price may test the neckline again after some time.
When it comes to AUDUSD short positions now look more preferable. For aggressive trading, a trader can enter the market at the current prices. Advocates of a more conservative strategy should wait for the level to be retested.
📌 Entry: 0.67124
✔️ First target: 0.66857
✔️ Second target: 0.66799
❌ Stop order: 0.67243