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FX.co ★ AUDUSD M5: Head and Shoulders

AUDUSD M5: Head and Shoulders

Head and ShouldersThe Head and Shoulders pattern has formed on the AUDUSD M5 chart. The head high is at 0.7037, while the neckline passes through 0.7029/0.7030. The pattern may reverse the current uptrend. A break below the lower neckline anchor may confirm the bearish reversal.
The M5 and M15 time frames may generate more false entry signals.
*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