AUDUSD Can Push Lower, Wait For Sell Setups

From previous outlook and forecast, we can see price has indeed pushed lower impulsively on the mid time frame.

Now we can see price has already break previous lows, and start to consolidate again. This is good sign for more downside from the price, as long as a continuation correction is formed here.

This week, wait for the correction to complete, to confirm another impulse phase on the lower time frame.

Be careful price sometimes has tendency to turn the current correction to be a reversal, so break above the highs and form bullish price action will void this forecast and outlook.

Kommentera:

Price is still forming bigger consolidation, still have potential to push down. Watch for bearish price action.