Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market made new lows, but there is a strong support on 111.00.
AUD/USD: aussie reached main support
Technical levels: support – 0.7800, 0.7830; resistance – 0.7880, 0.7900.
- Buy — 0.7840; SL — 0.7820; TP1 — 0.7880; TP2 — 0.7900.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the oversold area yet, but entered into the channel of Tenkan-Kijun and can grow to Kijun’s levels.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are entered into the Cloud.
Recommendation: BUY 111…
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