Recommendations: SELL 0…
AUD/USD: aussie going to March’s extremums
Technical levels: support – 0.7640; resistance – 0.7690.
- Sell — 0.7690; SL — 0.7710; TP1 — 0.7640; TP2 — 0.7610.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen and Kijun-sen; the market made a new local highs, but there is a strong resistance on 0.7690-0.7700.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.