The AUDUSD has broken out of a bearish wedge and also has a bearish pennant that is trying to play out.
Bitcoin has spent all of 2019 building a strong base that it has rallied from.
Alongside the bear flag competing when the pair traded below the 123.00 level a pin bar was posted which could signal a near term bounce in the pair.
The EURUSD has developed a triangle consolidation despite the AB=CD pattern pointing lower. Obviously, the risk moving forward is the China/US trade deal in the coming days.
The DAX had a strong reversal ahead of the 78% retracement when it was trading at channel resistance as the daily RSI registered extremely overbought the last few sessions.
Ahead of the RBA decision tonight the AUDJPY has broken key support as the China/US trade negotiations apparently are strained.
Following up on Sunday’s blog post (read it HERE), crude has now broken below the horizontal support area and the ascending channel’s support (both confluenced at $63.75).
The SPX closed at the key uptrend line of the ascending wedge, and based on the bearish engulfing candle on the daily chart, it looks like a move lower from here is in the cards near term.