AUD/USD: pin bar discouraged bulls

2018-04-16 21:00    FBS

Recommendations:

SELL 0.7755 SL 0.781 TP1 0.768 TP2 0.7655

BUY 0.781 SL 0.7755 TP1 0.79 TP2 0.7985

On the daily chart, AUD/USD keeps forming “Three Indians” and “Wolfe waves” pattern. Bulls managed to leas the pair outside of the medium-term downtrend and return it inside the long-term uptrend channel. At the same time, the fighting continues, and formation of a pin bar gives bears hope for a comeback.

AUD/USD: pin bar discouraged bulls Market Analysis 1 

On H1, the return of the pair to the middle of the consolidation range of 0.7740-0.7770 will allow speaking about the “Shakeout-Fakeout” pattern.

AUD/USD: pin bar discouraged bulls Market Analysis 2

AUD

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