Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
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.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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