ADAUSD has confirmed the downtrend below the important trend-channel that was trading between 0.0726 and 0.089. The whole channel trading operation looks like a top formed and now the downtrend comes into play.
ADAUSD Price Analysis: 4 Hr Chart
ADAUSD has found immediate support at the support line which formed in the trend before. When this trend is broken we will seepressure after this happened.
to confirm the resistance before finding its way back to the downside.
After the trend-line confirmed to the downside there is the support which can be respected between the 0.0692 and 0.072 level, when ADAUSD approaches this level it can show a bounce up, it will be interesting how its playing out.
- TREND: Sideways
- FORMATION: Between lines
- EXPECTATIONE: Breakdown of uptrend-line
- TREND AFTER EXPECTATION: Downsiee
- PREV: 0.075099
- OPEN: 0.075272
- VOLUME: 8.65M
- DAY’S RANGE: 0.074811 — 0.080502