On the daily chart of AUD/USD, the 88.6% target of the "Shark" pattern was reached.
Tag - aud - australian dollar
With Canadian economic releases later today at 15:30 MT time, the Canadian dollar is getting ready for the increase in volatility.
Trade ideas on December 17-21
On the daily chart of AUD/USD, the implementation of the purple "Shark" pattern with the 88.6% target continues.
The market sentiment is down, Theresa May can't renegotiate the Brexit deal, Italy and the EU can't agree on a lower deficit.
AUD/USD has already substantially declined last week forming a big engulfing candlestick on W1.
Last week turned out to be disappointing for the AUD bulls, despite the gap up opening on Monday after the negotiations between the Chinese and US presidents. What are the reasons behind this slide?
The market sentiment improved based on an ease of the trade war tensions between China and the US.
Let’s have a look at the economic calendar.
On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel.
What events this week will bring us
Trading plan for December 3