AUD/USD: pin bar discouraged bulls

AUD/USD: pin bar discouraged bulls


SELL 0.7755 SL 0.781 TP1 0.768 TP2 0.7655

BUY 0.781 SL 0.7755 TP1 0.79 TP2 0.7985

On the daily chart, AUD/USD keeps forming “Three Indians” and “Wolfe waves” pattern. Bulls managed to leas the pair outside of the medium-term downtrend and return it inside the long-term uptrend channel. At the same time, the fighting continues, and formation of a pin bar gives bears hope for a comeback.


On H1, the return of the pair to the middle of the consolidation range of 0.7740-0.7770 will allow speaking about the “Shakeout-Fakeout” pattern.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

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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