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TheCaffeinatedTrader

AUDUSD Breakout from Major Downtrend

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Dollar Australia / Dollar AS (OANDA:AUDUSD)  
TheCaffeinatedTrader  
OANDA:AUDUSD   Dollar Australia / Dollar AS
Trend Analysis Chart Patterns Technical Analysis Forex forexsignals breakout breakoutsignal trendchange trendreversal
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trendanalysis chartpattern technicalanalysis forex forexsignals breakout breakoutsignal trendchange trendreversal
Last week this pair showed a lot of buyers strength and broke the major downtrend that started back in January 2018 after a major bounce of a double bottom pattern at the .705 price handle.

I see price moving up further to test the 100% retracement with some selling coming in play down to test the 618 retrace before bouncing up to the 1.272 extension with major structure confluence at the .736 price level.

This could be a major trend change for the coming months.
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