How to trade AUD/USD?

How to trade AUD/USD?

Recommendation:

BUY 0.7280

SL 0.7225

TP1 0.738 TP2 0.745 TP3 0.748

On the daily chart, AUD/USD failed to rise above the upper border of the downtrend channel. Never the less, bulls are willing to repeat their attempt. If they succeed and the Aussie gets above resistance at 0.7280, the pair will form an inverted “Head and shoulders” pattern and focus at 88.6% of the “Shark” pattern.

AUDUSD daily.png 

On H1, AUD/USD is retesting the neckline of the inverted “Head and shoulders” pattern. A pullback from this level and return to resistance at 0.7280 will increase the odds of it going to targets of “Wolfe waves” and AB=CD.

AUDUSD h1.png 

Similar

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

EUR/CAD is ready for a move

EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.

Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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