AUD/USD: buy or sell?

AUD/USD: buy or sell?

Recommendation:

BUY 0.7135

SL 0.708

TP1 0.7235 TP2 0.7325 TP3 0.7415

On the daily chart of AUD/USD, the pair is trying to break above the 0.7107 level (78.6% of the long-term upward wave). If bulls are able to push AUD/USD above it, the pair will leave the downward channel and will reach targets of the “Shark” pattern. If bears succeed, the pair will move down to the 0.886 level and lower.  

audusd_d.png

On H1, the pair reached targets of the “Broadening wedge” pattern. A break of the resistance at 0.7135 will increase odds of the “Shark” and “Wolfe waves” patterns’ implementation.

audusd_60.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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