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AUDUSD Bullish Three Drives Pattern Update

AUDUSD Bullish Three Drives Pattern Update

Aussie reached the area of the entry of the three drives pattern.

Setup of the Pattern:

Trade: Long

Entry: 0.6942 – 0.6927

Stop: 0.69

Targets: 0.6958 / Achieved   0.69730   0.69820

Note: The main trend is still bearish . This pattern can be used as a near-term buying opportunity

Update: Price reached the TP1. What’s next?

AUDUSD needs to break above 0.69580 in order to continue its recovery. Long Positions can be added if the price breaks above 0.69580.

If the price can not break above 0.69580, it is likely to go down and test 0.69270 support. A fresh long opportunity can be used at 0.69270.



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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

AUDUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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