Recommendation: BUY 0…
AUD/USD painted a triangle
BUY 0.7985 SL 0.793 TP1 0.8085 TP2 0.8335
SELL 0.7915 SL 0.797 TP 0.779
On the daily chart, AUD/USD formed a triangle. A break of its upper border will create conditions needed for an advance to 0.8000. On the other hand, it the pair quits bullish trend channels, risks of correction will strengthen.
On H1, there’s a “Widening wedge” pattern. The successful test of 0.7982 will allow bulls to keep moving up. On the other hand, decline to support 0.7918 will return initiative to bears.
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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