Correlation chart shows potential long term short of the AUD.
1. Double Top formation and break of support line. Completion of Double Top brings price down to horizontal correlation line.
2. Strong red candle breaks trend line support
3. USD/AUD showing potential handle formation which brings price to horizontal correlation line
This is a long term play that will require patience.
1. Double Top formation and break of support line. Completion of Double Top brings price down to horizontal correlation line.
2. Strong red candle breaks trend line support
3. USD/AUD showing potential handle formation which brings price to horizontal correlation line
This is a long term play that will require patience.
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Also can be viewed as Head and Shoulder Pattern