AUD/USD: no one wants to give up

AUD/USD: no one wants to give up

Recommendations:

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.

audusd_d.png

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.

audusd_60.png

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Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

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