AUD/USD: bulls return to the game

AUD/USD: bulls return to the game

2019-11-11 • Updated

Recommendation:

BUY 0.7640

 SL 0.7585

TP1 0.775 TP2 0.7895

On the daily chart, AUD/USD bulls managed to keep the pair inside the long-term uptrend channel. A break of the upper border of the medium-term descending channel with the following successful test of resistance at 0.7637 will increase the risks of correction to the medium-term bearish trend.

AUD1.png  

On H1, AUD/USD formed a “Dragon” pattern. A successful test of resistance at 0.7636-0.7639 will finish the formation of “Dragon’s head” and will be a signal for opening long positions.

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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