AUDUSD M15: The upward movement is weakening

  • 6 hours ago
  • Signals
  • 1 minute Read

The pressure is easing. A support line has formed on the AUDUSD chart.
A classic Head and Shoulders pattern emerged on the chart. The neckline in green has been apparently pierced, confirming the completion of this reversal pattern. This is an important signal indicating a potential price increase. It is important to be vigilant for possible retesting of the Neckline, which often occurs as this pattern develops.
The AUDUSD trade is better situated towards opening a long position strategy. Possible entry points include both current prices and retest levels of the designated resistance line.
📌 Entry: 0.66851
✔️ First target: 0.66986
✔️ Second target: 0.67025
❌ Stop order: 0.66728