Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
AUD/USD is at the crossroads
Recommendation:
SELL 0.7825
SL 0.7890
TP1 0.7725 TP2 0.7650
On the daily chart of AUD/USD, there’s a desperate fighting for 0.7410-0.7460. Bulls are trying to return the pair inside the long-term uptrend, while bears want to return it to the medium-term downtrend.
On H1, the “Shark” pattern is transforming into 5-0. Never the less, a break of resistance at 0.7795 will trigger a “Bat” with a target at 88.6%. Powers of bulls and bears near 0.7765-0.7865 are relatively equal. This increases the possibility of consolidation.
Ivan Karamazov
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It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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