AUD/USD: bulls are out of their cage

AUD/USD: bulls are out of their cage

Recommendation:

BUY 0.7425

SL 0.7370

TP1 0.7525 TP2 0.7600 TP3 0.7640

On the daily chart of AUD/USD, bulls managed to counterattack and trigger the “Shark” pattern. If they manage to settle above 0.7450, the odds of the rally’s continuation towards the upper border of the downtrend channel will increase. Its break will allow the Aussie to count on the advance to targets of “Wolfe waves” pattern.

AUDUSD1.png 

On H1 of AUD/USD, there’s a “Broadening wedge” pattern. Pullbacks to 23.6%, 38.2% and 50% of the wave 4-5 are usually used for long positions.

AUDUSD2.png

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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