AUD/USD: bulls want to go north

AUD/USD: bulls want to go north


BUY 0.796

SL 0.7905

TP1 0.802 TP2 0.807 TP3 0.835

On the daily chart, AUD/USD managed to settle above the important level of 0.7900 (23.6% of the last bullish wave). The odds of the uptrend’s resumption are now higher. The growth of Australian dollar towards 200% target of the AB=CD pattern may continue in case of a successful test of resistance at 0.7960.


On H1, AUD/USD reached targets of the “Widening wedge”. A break of resistance at 0.9660 will increase the odds of meeting 88.6% and 113% targets of the “Shark” pattern.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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