These could be the 5 biggest pain trades in the second half, HSBC says
Good day fellow traders!
AUD/USD is recovering in a five-wave manner from June 18, however this recovery can be ending as we see price approaching potential resistance near the 0.702/0.704 region. We see visible five waves to the upside within a higher degree wave a/i, that can look for resistance and a bearish turn into a three-wave correction. A drop below the lower EW channel support line would be first evidence of a completed five waves up, and that a temporary three-wave pullback is in progress.
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