AUDUSD Wedge pattern structure breakout
Price broke the structure with a strong bull candle.
MACD is showing divergence
Beware of the resistance levels shown.
The wedge chart pattern signals a reverse of the trend that is currently formed within the wedge itself. Wedges are similar in construction to a symmetrical triangle in that there are two trendlines - support and resistance - which band the price of a security.
MACD is showing divergence
Beware of the resistance levels shown.
The wedge chart pattern signals a reverse of the trend that is currently formed within the wedge itself. Wedges are similar in construction to a symmetrical triangle in that there are two trendlines - support and resistance - which band the price of a security.