Recommendations: SELL 0…
AUD/USD is setting a trap
TP1 0.802 TP2 0.8005
On the daily chart, bulls managed to defend support in the form of the upper border of the triangle and lower border of the uptrend medium-term channel. This increases the chance that the bullish trend will resume towards 200% target of AB=CD.
On H1, AUD/USD has many chances to reach the targets of the “Shark” pattern. When it gets to 113% target, there may be selling, however, with moderate targets. When the pair reaches these targets, bulls will likely regain the initiative.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.