AUD/USD: bulls push the pair up

AUD/USD: bulls push the pair up

2019-11-11 • Updated


BUY 0.7085 SL 0.703 TP1 0.717 TP2 0.7215 TP3 0.7255

On the daily chart of AUD/USD, the 88.6% target of the "Shark" pattern was reached. As a result, the odds of the correction towards the 23.6%, 38.2%, 50% targets of the CD wave increased. The rebounds from these resistance levels may be used to open short positions. The update of the December's minimum will pull the pair down towards the 113% target. 


On H1, if the resistance at 0.7085 is broken, the pair can make the reversal towards the 23.6%, 38.2% and 50% targets of the "Shark" pattern's CD wave. 



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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