AUD/USD is playing hide-and-seek

AUD/USD is playing hide-and-seek

Recommendation:

BUY 0.7840, SL 0.7785, TP1 0.7990, TP2 0.8050

BUY 0.7805 SL 0.775 TP1 0.7990 TP2 0.8050

On the daily chart, AUD/USD is undergoing a correction to the uptrend. Bears are trying to return the pair to the inside of the uptrend channel. At the same time, bulls remain in control, so there’s a reason to use the pullbacks to the downside for opening long positions.

AUD.png

On H1, AUD/USD broke the lower border of an uptrend and triggered the “Bat” pattern. Its target is at 88.6% of XA wave. It allows determining an important support.

AUD2.png

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What are the scenarios for gold?

On the daily chart, XAU/USD is consolidating in the 1185-1210 range. A break of its upper border will trigger a “Crab” with a 161.8% target.

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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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