Bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.
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.
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...