AUD/USD: the aussie hunts the Shark

AUD/USD: the aussie hunts the Shark

Recommendations:

BUY 0.7435 SL 0.738 TP1 0.7535 TP2 0.7635

SELL 0.733 SL 0.7395 TP1 0.7265 TP2 0.723

On the daily chart of AUD/USD, bulls are trying to counterattack and implement the “Shark” pattern with 88,6% target. To do that, they need to break the resistance at 0.745 and pull the pair out of the downward channel. Conversely, if the pair breaks the June low, risks of an AB=CD pattern’s implementation will increase.

audusd_d.png

On H1, the 0.733-0.7435 consolidation is forming. An exit from the consolidation will determine the further direction of the pair.

audusd_60.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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