After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
AUD/USD: let's buy the AUD
2019-11-11 • Updated
TP1 0.724 TP2 0.727 TP3 0.734
On the daily chart of AUD/USD, bulls have been trying to implement the “Shark” pattern and pull the pair to its 88.6% target. At first, they need to break the resistance at 0.7107 (78.6% from the long-term upward wave) and pull the pair out of the downward channel.
On H1, there is the “Three Indians” reversal pattern. If the pair breaks the resistance at 0.715, the “Shark” pattern will be implemented. Its 88.6% and 113% targets are at 0.727 and 0.734 respectively.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
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