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

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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