AUD/USD is hinting a dragon

AUD/USD is hinting a dragon

2019-11-11 • Updated

Recommendation:

BUY 0.7885

SL 0.7830

TP1 0.7985 TP2 0.8050 TP3 0.8100

On the daily chart of AUD/USD, a break of the line 2-4 and exit from the downtrend channel triggered “Wolfe waves” pattern. As a result, the odds of going to 1-4 (situated near 0.8050-0.8100) with the following resumption of the uptrend increased.

AUD1.jpg  

On H1, AUD/USD reached 88.6% target of the “Bat”. As a result, the risks that it will transform to “Crab” increased. The pair continues forming a “Dragon” pattern.

AUD2.jpg

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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