Hello traders & Happy Thursday! :))
The AUD/USD looks good and it's trending towards the downside on multiple time frames. We are seeing a bearish engulfing candle formation on H4. On a weekly TM, the price crossed both moving averages, indicating bearish power in the market, and a new low was formed on a 1-hour chart. has been sold off by the hedge funds, so the overall setup looks very bearish.
The AUD/USD looks good and it's trending towards the downside on multiple time frames. We are seeing a bearish engulfing candle formation on H4. On a weekly TM, the price crossed both moving averages, indicating bearish power in the market, and a new low was formed on a 1-hour chart. has been sold off by the hedge funds, so the overall setup looks very bearish.
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