AUD/USD: bulls vs bears

AUD/USD: bulls vs bears

Recommendations:

SELL 0.765 SL 0.7705 TP1 0.757 TP2 0.7525

BUY 0.7715 SL 0.766 TP1 0.776 TP2 0.782 TP3 0.788

On the daily chart of AUD/USD, after the pair reached the 127.2% target of the “AB=CD” pattern, the consolidation within 0.765-0.7715 is continuing. To resume the downtrend bears need to push the pair out the consolidation and break the support at 0.7635-0.764.

audusd_d.png

On H1, if the pair breaks the resistance at 0.7715 (the upper boundary of the 0.765-0.7715 consolidation), the “Crab” pattern with the 161.8% target will be implemented and odds of “Wolfe waves” and “Shark” patterns will increase.

audusd_60.png

aud

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Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines

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