AUD/USD: bulls counterattacked

AUD/USD: bulls counterattacked

2019-11-11 • Updated

Recommendations:

BUY 0.7815 SL 0.776 TP1 0.7955 TP2 0.8055

SELL 0.775 SL 0.7805 TP 0.7615

On the daily chart, the inability of bears to pull the prices below 0ю7727 pointed at their weakness. Bulls counterattacked and count on the inverted “Shark” pattern. To begin with, they need to hold above 0.7872.

AUD1.png  

On H1, AUD/USD formed a “widening wedge”. Pullbacks towards 23.6%, 38.2% and 50% of the wave 4-5 are usually used for buying. A decline below support levels at 78.6% and 88.6% may represent good selling opportunities.

AUD2.png

Similar

AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

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