AUD/USD: 2 possibilities

AUD/USD: 2 possibilities

Recommendations:

BUY 0.7715 SL 0.766 TP1 0.7815 TP2 0.789 TP3 0.7985

SELL 0.7635 SL 0.7690 TP1 0.7570 TP2 0.7535 TP3 0.7500

On the daily chart, AUD/USD pulled back after reaching 127.2% target of AB=CD. The pair formed a pin bar. If it’s fulfillment is followed by the successful test of support at 0.7635-0.7640 will increase the risks of decline.

AUD1.png 

On H1, AUD/USD formed “Wolfe waves” pattern. To trigger it, bulls need to overcome resistance at 0.7707-0.7715. On the other hand, decline to March low will open the way down.

AUD2.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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