Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
AUD/USD: bears are stronger
2019-11-11 • Updated
Recommendations:
SELL 0.7485
SL 0.754
TP1 0.7385 TP2 0.736 TP3 0.7245
On the daily chart of AUD/USD, the pair couldn’t stick above the upper boundary of the downward channel that signals a bulls’ weakness. Bears are ready to implement the AB=CD pattern. Its 161.8% target is near 0.7245.
On H1, the “Broadening wedge” pattern was implemented and the pair reached the 127.2% target of the “Shark” pattern. It increases risks of the pullback to 23.6%, 38.2% and 50% of the 4-5 wave. A correction should be used to sell.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...