AUD/USD: bulls showed their weakness

AUD/USD: bulls showed their weakness

On the AUD/USD daily chart, the bulls for the second time in the last couple of days tried to push quotes out of the downward trading channel. They failed to do so. Most likely, they fail to implement an inverted Gartley pattern with target 0.7635  too. The fall of the Australian dollar below support at 0.7525 will strengthen the risks of a downtrend restoration.


On the AUD/USD hourly chart, the breakout of the lower border of the upward trading channel will activate the "Crab" pattern. Its target 161.8% is located near 0.774.

Recommendation: SELL 0,7545 SL 0,76 TP1 0,747 TP2 0,741


USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

AUD/USD: market is oversold

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.



Morning brief for May 30

 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…

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