AUD/USD: 2 possibilities

AUD/USD: 2 possibilities

Recommendations:

BUY 0.7715 SL 0.766 TP1 0.7815 TP2 0.789 TP3 0.7985

SELL 0.7635 SL 0.7690 TP1 0.7570 TP2 0.7535 TP3 0.7500

On the daily chart, AUD/USD pulled back after reaching 127.2% target of AB=CD. The pair formed a pin bar. If it’s fulfillment is followed by the successful test of support at 0.7635-0.7640 will increase the risks of decline.

AUD1.png 

On H1, AUD/USD formed “Wolfe waves” pattern. To trigger it, bulls need to overcome resistance at 0.7707-0.7715. On the other hand, decline to March low will open the way down.

AUD2.png

aud

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EUR/GBP: pound is chasing a bat

On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.

EUR/USD: bears hit the breaks

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.

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