AUD/USD is taming a shark

AUD/USD is taming a shark

Recommendation:

BUY 0.7650

SL 0.7595

TP1 0.7750 TP2 0.7810

On the daily chart, AUD/USD reached an interim high at 88.6% of the junior “Shark” pattern. There may be a pullback to the lower border of the uptrend channel. On the other hand, an advance of resistance at 0.7735-0.7750 will increase the odds of continuation towards 0.7765 (113% target of the junior “Shark” pattern) and 0.7810 (50% of the wave CD of the senior “Shark” pattern).

AUD1.png 

On H1, AUD/USD formed a “Widening wedge”. Pullbacks to supports at 0.7680 and 0.7650 may be used for buying.

AUD2.png

aud

Similar

USD/CHF can go down

USD/CHF reached 0.9630 (50% of the medium-term rising wave), although the diagonal resistance in form of the upper border of the downtrend channel is a more serious obstacle.

GBP/USD: pound Cloud’s support

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.

gbp

Latest news

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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...

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