Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
AUD/USD: Aussie is going for a break
2019-11-11 • Updated
BUY 0.7695 SL 0.764 TP 0.7805
SELL 0.762 SL 0.7675 TP 0.75
On the daily chart, AUD/USD keeps consolidating within 0.7620-0.7735. A break of its upper border will open the way up to 0.7805-0.7820, 0.7860 and higher. On the other hand, successful test of support at 0.7620 will increase the odds of 113% target of the “Shark” pattern.
On H1, AUD/USD keeps forming “Wolfe waves” pattern. Aggressive entry implies long positions on the break of resistance at 0.7695. According to a conservative approach, one should wait for a test of diagonal resistance and (or) formation of the point 5 of the pattern “Widening wedge”.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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