Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
AUD/USD: aussie is dreaming of the north
2019-11-11 • Updated
On the AUD/USD daily chart, the bears failed to keep quotes below the important support at 0.7605. As a result, the risks of the transformation of the junior inverted "Shark" pattern into 5-0 have increased. If this happens, the update of the March high followed by the successful test of the resistance at 0.777 will allow us to set 113% target in the "Shark" senior pattern.
On the AUD / USD hourly chart, the expanding wedge pattern has been formed. Rollbacks towards 23,6%, 38,2% and 50% levels from 4-5 wave can be used for the opening of long positions in the direction of 88.6% and 113% targets in the Shark reversal pattern.
Recommendations: BUY 0,763 SL 0,7575 TP 0,777,
BUY 0,762, SL 0,7565 TP1 0,7695 TP2 0,777.
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