Hi Traders!
There is a bear flag pattern developing on the AUDUSD 3H chart.
Here are the details:
The price action looks bearish, and the market is currently in a consolidation phase in the flag's channel as the flag pattern is in its early phase. The market is still below the 20 EMA, which is a bearish signal. As long as the market remains below the EMA and flag channel resistance, we will remain bearish on this pair.
Preferred Direction: Sell
Resistance (FLAG CHANNEL): 0.65435
Support (FLAG CHANNEL): 0.64856
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
There is a bear flag pattern developing on the AUDUSD 3H chart.
Here are the details:
The price action looks bearish, and the market is currently in a consolidation phase in the flag's channel as the flag pattern is in its early phase. The market is still below the 20 EMA, which is a bearish signal. As long as the market remains below the EMA and flag channel resistance, we will remain bearish on this pair.
Preferred Direction: Sell
Resistance (FLAG CHANNEL): 0.65435
Support (FLAG CHANNEL): 0.64856
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
