The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
AUD/USD: aussie is dreaming of the north
2019-11-11 • Updated
On the AUD/USD daily chart, the bears failed to keep quotes below the important support at 0.7605. As a result, the risks of the transformation of the junior inverted "Shark" pattern into 5-0 have increased. If this happens, the update of the March high followed by the successful test of the resistance at 0.777 will allow us to set 113% target in the "Shark" senior pattern.
On the AUD / USD hourly chart, the expanding wedge pattern has been formed. Rollbacks towards 23,6%, 38,2% and 50% levels from 4-5 wave can be used for the opening of long positions in the direction of 88.6% and 113% targets in the Shark reversal pattern.
Recommendations: BUY 0,763 SL 0,7575 TP 0,777,
BUY 0,762, SL 0,7565 TP1 0,7695 TP2 0,777.
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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...