The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD: pin bar discouraged bulls
2019-11-11 • Updated
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.
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