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AUD/USD: the aussie gains back its strength
2019-11-11 • Updated
BUY 0.724 SL 0.7185 TP1 0.731 TP2 0.7345 TP3 0.7370
On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel. They plan to continue moving towards the 88.6% target of the "Shark" pattern. Bulls need to break the resistance at 0.7270 to take control over the situation.
On H1, the implementation of the junior "Shark" pattern's 88.6% target increases the risks of the reversal towards 23.6%, 38.2% and 50% of the CD wave. On the other hand, if the targets of the senior "Shark" pattern are reached, the pair will fall further.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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