AUD/USD Technical Analysis
- AUD/USD Pandemic ™ NKT Pattern
- Selling the rallies
- Bearish trend continues
- M L4 then Q L3 are targets
MEGATREND MAs: Bearish
D1 Chart AUD/USD
- Deeper Pullback
- Q L3 test
- Q H3 resistance
- Pandemic pattern & entry zone
- Final monthly target
The AUD/USD is bearish. We can see that the market is clearly inclined to drop with a further continuation to the downside. The pandemic pattern ™ appeared and gave us the entry within the 0.6870-80 zone. The pandemic pattern has an 86 % success ratio and it’s mine proprietary pattern.
The continuation below M L3 is possible towards M L4 and ATR pivot. The intraday target is 0.6819 as the ATR projection low but we might also see a possible extension to 0.6794 during the Asia session. Continuation below implies a possible swing trade with 0.6620 as the final target. Have in mind that M L5 is the strongest monthly support and M pivots change once per month.
This analysis, and all entry signals and targets are a part of the Megatrend system and a trading course. I am maintaining 2 short trades on AUD/USD with an entry right at the pandemic pattern signal. My Telegram group received a sell AUD/USD signal as a part of the trading method. Watching the daily time frame for this trade but it is qualified as intraday/intraweek trade.
Summary of July trading results is HERE(click to see)
Cheers and safe trading,
Nenad
