AUD/USD is at the crossroads

AUD/USD is at the crossroads


SELL 0.7825

SL 0.7890

TP1 0.7725 TP2 0.7650

On the daily chart of AUD/USD, there’s a desperate fighting for 0.7410-0.7460. Bulls are trying to return the pair inside the long-term uptrend, while bears want to return it to the medium-term downtrend.


On H1, the “Shark” pattern is transforming into 5-0. Never the less, a break of resistance at 0.7795 will trigger a “Bat” with a target at 88.6%. Powers of bulls and bears near 0.7765-0.7865 are relatively equal. This increases the possibility of consolidation.  





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

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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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