AUD/USD Price Prediction: Weekly chart shows bearish Tweezer Top nearly confirmed
11.10.2024, 11:47

AUD/USD Price Prediction: Weekly chart shows bearish Tweezer Top nearly confirmed

  • AUD/USD rose to the top of its long-term range, formed a bearish Tweezer Top and has weakened. 
  • This is a bearish sign that suggests a reversal down is set to unfold. 

AUD/USD rose up to the top of its range during the summer in a three-wave ABC pattern (see chart) and then formed a bearish Tweezer Top Japanese candlestick reversal pattern on the weekly chart (orange-shaded circled on chart).


AUD/USD Weekly Chart 



This pattern occurs at the end of an up move when two consecutive bars peak at the same or a similar level and both have a similar length “wick”. The wick is the range that sticks out above the full body of the candle. The two candlest taken together thus resemble a “tweezer”. 

In the following week the pair has sold off, so far, and assuming the week ends as a red down candlestick (today is Friday), it will provide added bearish confirmation for the Tweezer Top. 

The long-term trend is sideways since the pair has been moving in a range for over a year. Given the principle that “the trend is your friend” the odds favor a continuation of this trend. In this case, this would imply the next move ought to be a down leg back towards the range floor. 

A break below 0.6701 (week’s lows) would provide bearish confirmation to an initial target at the cluster of major moving averages at between 0.6645 and 0.6632. 

A further break below the bottom of wave B at 0.6622 would probably signal an even deeper sell-off down to a target at 0.6400 and the range lows. 

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik