Recommendations: SELL 0…
AUD/USD: bulls counterattack
TP1 0.7905 TP2 0.8 TP3 0.8095
On the daily chart of AUD/USD, convergence area of 0.7740-0.7760 became a very hard obstacle for bears. Bulls managed to lead the pair above 50% of the last bullish wave and want to continue the uptrend.
On H1, AUD/USD reached the targets of “Three Indians” and 1-2-3. If Aussie quits the descending trend channel, the risks of decline to 88.6% and 161.8% of “Bat” and “Crab” will increase.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.