Forex market analysis on 05/16/2023

Hello. Below are some recommendations for trading in the Forex market on 05/16/2023


Absorption pattern around 1.3555 , giving a reaction to FVG. As I wrote earlier, there is an attractive trend line below, under which there is probably a lot of liquidity. It is probably worth looking at the sales, with the expectation of a fall to 1.3294 and lower to 1.3227.


A Rails pattern was formed on the AUDUSD pair. But I'm not in a hurry to buy here. The pattern does not have much support from below, and from above it is FVG from the last impulse, before which the highs were updated. I think in the coming days you can watch the price around 0.6725 and see sell signals, with the expectation of a fall to 0.6569.

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