AUD/USD: bulls vs bears

AUD/USD: bulls vs bears


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.


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.




EUR/USD: euro wants to surf

On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

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



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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