Assuming the 20 Day MA crosses the 50MA and 100MA, there is a great chance it will continue it's major downtrend.
Reasons?
- Double top (clearer depiction on 15min chart)
- MACD - Blue signal appears to move below the orange
- RSI - Closer to being overbought
- 20 Day MA is close to crossing above both 50MA and 100MA
Trade: Sell (Short) AUD/USD
Reasons?
- Double top (clearer depiction on 15min chart)
- MACD - Blue signal appears to move below the orange
- RSI - Closer to being overbought
- 20 Day MA is close to crossing above both 50MA and 100MA
Trade: Sell (Short) AUD/USD