AUD/USD: bulls are attacking

AUD/USD: bulls are attacking

Recommendations:

BUY 0.79

SL 0.7845

TP1 0.799 TP2 0.8055

On the daily chart AUD/USD,  the exit of quotations from the downtrend channel and the break of resistance at 0.7892-0.7902 will increase risks of the activation of Gartley pattern and the continuation of the pair’s rise in the direction of its 78.6% target. Vice versa, a rebound will let bears continue correction.  

audusd_d.png

On H1 of AUD/USD, the pair reached targets of the "Widening wedge" and the "Shark" patterns. Currently, the “Crab” pattern is being activated. To continue the rally bulls should break the resistance at 0.79, 0.7945 and 0.799.

audusd_60.png

Similar

NZD/USD can get even higher

On the daily chart, bulls managed to lead NZD/USD outside of the downtrend channel. They are ready to trigger the “Shark” with 88.6% and 113% targets.

Latest news

GBP/USD: confirmed "Thorn" pattern

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...

gbp

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