EUR/USD: local bullish 'Engulfing'
The market is likely going to test the next resistance at 1.1836, which could be a starting point for a bearish correction...
AUD/USD reached buy target 0.7900
- AUD/USD reached buy target 0.7900
- Next buy target - 0.8000
AUD/USD continues to rise after the recent breakout of the resistance level 0.7900 (which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.7900 accelerated the active minor impulse wave (iii) of the impulse 3, which belongs to the intermediate impulse wave (3) from the end of December. AUD/USD is expected to rise to the next buy target at the next round resistance level 0.8000 (target price for the termination of the active minor impulse wave (iii)).
Dmitry Chernovolov
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