Recommendation: BUY 0…
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 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.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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