AUD/USD: bulls gave up

AUD/USD: bulls gave up


SELL 0.7715 SL 0.7770 TP1 0.7615 TP2 0.7570 TP2 0.7525

SELL 0.7650 SL 0.7705 TP1 0.7550 TP2 0.7525

On the daily chart of AUD/USD, the inability of bulls to keep the pair inside the long-term uptrend channel with the following decline of the pair below the important support area of 0.7745-0.776 showed that buyers gave up. A break of support at 0.7635-0.774 will lead to the further decline to 161.8% target of AB=CD.


On H1, after AUD/USD reached 88.6% of the “Shark” pattern, the odds of s pullback to 38.2%, 50%, and 61.8% increased.



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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