Recommendation: BUY 0…
AUD/USD made a stop
SELL 0.7920, SL 0.7985, TP 0.7820
BUY 0.7760, SL 0.7705, TP1 0.7880, TP2 0.8030, TP3 0.8200
On the daily chart, there’s a “Spike and reversal with acceleration” pattern. The break of a trendline in the ‘spike” phase increases the risks of correction towards 0.7800. In that area, there’s a 88.6% target of a “Shark” pattern and the lower border of the bullish channel.
On H1, there’s a “Shakeout-Fakeout” pattern. Return of the pair to the middle of the 0.7880-0.7965 channel will strengthen the risks of a pullback towards 113% and 161.8% targets of “Shark” and “Crab” patterns.
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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