AUD/USD Reverse Bearish Divergence with M Pattern

Juli 10, 2018 13:56

Source: Admiral Markets MT5 with MT5SE Add-on

The AUD/USD has formed an M bearish pattern along with Reverse Bearish Divergence (RBD). The RBD is a type of divergence where price is making a double top-ish price while the oscillator is making a lower high. The AUD/USD could drop from the 0.7460-70 zone if 0.7495 isn't broken to the upside. Targets are 0.7440 (strong level), 0.7408 and 0.7390.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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