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FX.co ★ AUDUSD M5: Head and Shoulders

AUDUSD M5: Head and Shoulders

Head and ShouldersThe technical pattern called Head and Shoulders has appeared on the chart of AUDUSD M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.7756/0.7758 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.7743.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the patterns list Go to graph