AUDUSD - Bearish Shark at 0.6960-0.6970
AUDUSD looks to be heading north, there could be some rebound in the stock market this week I guess, with falling USD.
Is the FED planning a new stimulus again.
My view for AUDUSD is that it should go up and complete a bearish shark pattern around 0.6960-0.6970.
It will be wise to wait for patterns to complete before getting into the trade.
If you are adventurous, you can consider trading the C-D leg on this AUDUSD shark move too.
For shark pattern generally, profit targets are at 50% retracement of CD leg and 88.6% of CD leg.
Stops has to go below XC 1.27.
Good luck and good trading!
Is the FED planning a new stimulus again.
My view for AUDUSD is that it should go up and complete a bearish shark pattern around 0.6960-0.6970.
It will be wise to wait for patterns to complete before getting into the trade.
If you are adventurous, you can consider trading the C-D leg on this AUDUSD shark move too.
For shark pattern generally, profit targets are at 50% retracement of CD leg and 88.6% of CD leg.
Stops has to go below XC 1.27.
Good luck and good trading!
