Recommendation: BUY 1…
AUD/USD: bulls counterattacked
BUY 0.7815 SL 0.776 TP1 0.7955 TP2 0.8055
SELL 0.775 SL 0.7805 TP 0.7615
On the daily chart, the inability of bears to pull the prices below 0ю7727 pointed at their weakness. Bulls counterattacked and count on the inverted “Shark” pattern. To begin with, they need to hold above 0.7872.
On H1, AUD/USD formed a “widening wedge”. Pullbacks towards 23.6%, 38.2% and 50% of the wave 4-5 are usually used for buying. A decline below support levels at 78.6% and 88.6% may represent good selling opportunities.
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…
We’ve got a pullback from the lower “Window”, so there’s a bullish “Doji”, which has been confirmed .