On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues.
AUD/USD: Aussie wants to go
SELL 0.7320 SL 0.7375 TP1 0.7220 TP2 0.7195 TP3 0.7130
BUY 0.7465 SL 0.741 TP1 0.7565 TP2 0.77 TP3 0.779
On the daily chart, AUD/USD keeps consolidating in the 0.7305-0.7485 range. A break of its lower border will increase the odds of the decline to 200% target of AB=CD. On the other hand, a successful test of resistance at 0.7485 will open the way up to the targets of “Wolfe waves” pattern.
On H1, AUD/USD is forming a “Broadening wedge”. Its triggering on the break of support at 0.7320 will allow bears to keep pushing the Australian dollar down. On the contrary, an advance above resistance at 0.7465 will open the way up for the pair.
On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions.
On the daily chart of AUD/USD, the implementation of the purple "Shark" pattern with the 88.6% target continues.
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...