Irregular bullish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel of Tenkan-Kijun.
AUD/USD: a selling opportunity
TP1 0.7425, TP2 0.7400.
On the daily AUD/USD chart, bears managed to hold resistance at 0.7612 and make the quotes go beyond the uptrend channel. The break of support at 0.7525 will strengthen the risks of decline towards 0.7450 and the upper border of the previous descending channel.
On H1, AUD/USD tested support in the 0.7570-0.7575 area with the following retest. The pair returned to the previous trading range of 0.7520-0.7570. If the pair leaves this range, it will trigger the “Shark” pattern with targets at 0.7425 (78.6%) and 0.74 (88.6%).
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of GBP/USD, bulls could return the pair to the upper border of the downward channel.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...