The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
AUD/USD: no one wants to give up
2019-11-11 • Updated
SELL 0.758 SL 0.7635 TP1 0.75 TP2 0.7455 TP3 0.736
BUY 0.768 SL 0.7625 TP1 0.776 TP2 0.7855 TP3 0.79
On the daily chart of AUD/USD, bulls failed to return the pair to the long-term upward channel. Bears took control, however, an implementation of the Pin Bar shows that buyers of the aussie don’t give up.
On H1, the “Shark” pattern with 88.6% and 113% targets was activated. To reach these targets, the pair needs to break the diagonal support. To continue the rally, the pair needs to break the June high.
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