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Bearish Patterns

AU Bears "Head" Down to Target .6570Here I have AUD/USD on the Daily Chart! From Friday's High @ .67672 to its Low @ .66597, we can see we get the Confirmation of a strong reversal pattern with the Break of the Neckline of the Head & Shoulders! Now what I'd like to see off the same High and Low of Friday is Price give us a 38.2% Retracement of the Low & Pullback to test the Neckline for potential Sell Entries. ( .67008 - .6697 ) Swing High of Head to Neckline = 126.9 Pips Neckline - 126.9 = .6570 (Target) Fundamentals: AUD's undoing comes from a mix of a rise in Unemployment to 4.2% and Retail Sales ending August coming in @ 0% With the horrible run of jobs reports for the USD to start September, it managed to recover to end the week and give the idea that a 50 bps Rate Cut is less likely sitting at a 30% change and a 25 bps Rate Cut more likely at a 70% chance at the Sept 18th meeting. -RBA Interest Rate sits @ 4.35% -Fed Interest Rate sits @ 5.5% This upcoming week will be VERY news heavy for USD seeing as there is: -Core CPI, CPI m & y on Wednesday, Sept. 11th -Core PPI/ PPI m/m & Unemployment Claims on Thursday, Sept 12th!
Short
by Novi_Fibonacci
EUR/PLN Bearish Momentum Building Below 200 EMA ⚫Back in April 2024, the EUR/PLN pair tested the 4.2500 support zone, where a triple bottom was established. Over the past five months, the price has consistently failed to break below this level. Simultaneously, we can identify a resistance area near 4.3750, where a double top was formed, indicating a clear trading range between 4.2500 support and 4.3750 resistance—a classic example of range trading. ⚫Looking at the broader picture, in January 2024, the 4.4100 area, previously a support level, flipped to become resistance, confirming the continuation of a long-term bearish trend. Additionally, EUR/PLN remains below the 200 Exponential Moving Average, further reinforcing the likelihood of continued downward movement. ⚫Recent price action, particularly from an Elliott Wave perspective, suggests the formation of an ABC corrective pattern, which was halted at the 4.3311 resistance level, precisely aligning with the Volume Profile. (For those unfamiliar, the Volume Profile highlights the price level where the most trading volume occurred.) ⚫Analyzing the potential Elliott Wave count, EUR/PLN appears to be progressing into the strongest downward wave—wave 3. Overall, the technical outlook remains exceptionally bearish for the long term. As a downside target and potential final support for the 5-wave decline, we can consider the double 227.2% Fibonacci support, located around the 4.1425 area. ⚫While the odds strongly favor the downtrend, it's crucial for traders to remain vigilant. In the event that the price breaks above the 4.3750 resistance, it could signal the beginning of a shift from a bearish to a bullish trend.
Short
by CryptoPAMM