AUD/USD: fighting continues

AUD/USD: fighting continues

2019-11-11 • Updated

Recommendation:

SELL 0.795 SL 0.8005 TP1 0.7875 TP2 0.782

BUY 0.8055 SL 0.8 TP1 0.8155 TP2 0.824

On the daily chart, AUD/USD triggered Gartley pattern with a target at 78.6%. The necessary condition for its formation is the decline of the pair below support at 0.7937. On the other hand, if bulls manage to return the pair inside the bullish trend channel, a rally towards 161.8% of the AB=CD pattern will continue.

AUD1.png  

On H1, AUD/USD is forming a “Widening wedge” pattern. The decline of the pair below 0.7950 will be a signal for correction. Buying is possible from 78.6% and 88.6% of the wave 4-5.

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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