Baxia Markets
July 14, 2021

AUDUSD Falling Wedge Completed

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From this 4-hour chart, we can see that the big trend is downwards. The price has been dropping for 27 days. During which, the price has been down 3.78%, not a great deal, but enough for us to see a pattern. 



The falling wedge seems to be coming to an end. Fluctuations become more frequent but in a small range. Also, the price appears to meet support here. Is this the end of the falling wedge? Will the price go up soon? 




The 15 period moving average (blue line) and 25 period moving average (purple line) twist together, which means a breakout could come; this could also be proved by Bollinger Bands, the bands have already shrunk. ATR goes up; the price is going through comparatively large fluctuations. And the Bears power shows that the downward trend is lacking energy.


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