AUD/USD: bulls are betting on the triangle

AUD/USD: bulls are betting on the triangle

2019-11-11 • Updated

Recommendations:

BUY 0.7565 SL 0.751 TP1 0.7665 TP2 0.7775

SELL 0.745 SL 0.7505 TP1 0.737 TP2 0.735

On the daily chart of AUD/USD, there is a consolidation within the bearish trend. A break of upper boundaries of the ascending triangle and the downward channel will implement the “Shark” pattern with the 88.6% target.

audusd_d.png

On H1, the AUD/USD is moving within the 0.745-0.7565 channel.  A successful break of its upper boundary will let bulls to move upwards, a break of the bottom line will pull the pair to the 127.2% target of the “Perfect butterfly” pattern.

audusd_60.png

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