Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD: bulls are gaining strength
Recommendation: BUY 0.7275 SL 0.7220 TP1 0.7375 TP2 0.7435 TP3 0.757
On a daily chart of AUD/USD, there is a consolidation due to the transformation of the “Shark” pattern into 5-0. Sellers need to pull the pair below the support at 0.7195 to continue correction to the CD wave. On the other hand, buyers plan to bring the pair within borders of the upward channel and break the resistance at 0.7270.
On H1, if the pair manages to break the resistances at 0.7275 and 0.73, the “Shark” pattern will be activated. This situation will let bulls keep moving towards its 161.8% target.
Ivan Karamazov
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Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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