Bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.
AUD/USD: bears acted right off the bat
TP1 0.8075 TP2 0.8125 TP3 0.8215
On the daily chart AUD/USD, an exit of the pair out of an upward trading channel and a break of support at 88.6% and 78.6% from the last wave showed a return of initiative to bears. They met an important area of 0.7885-0.7895 convergence, a continuation of a southern campaign is impossible without breaking below it.
On the hour chart, as the pair reached an intermediate target at 127.2% of the pattern “Crab”, the odds of a pullback increased. An update of the February low will allow counting on a realization of 161.8% target.
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
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...