Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
AUD/USD returns to an old trend
TP1 0.7810 TP2 0.7850
On the daily chart, AUD/USD bulls managed to lead the pair outside of the downtrend channel and return it inside the long-term uptrend channel. If the pair renews December high with the following break of resistance at 0.7736-0.7752, the odds of a rally will increase.
On H1, the “shark” pattern is transforming into 5-0 and trading within a “Widening wedge”. A successful test of resistance at 0.7695-0.7700 will open the way north to 78.6% and 88.6% of the last descending wave.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines.
On a daily chart of AUD/USD, 88.6% and 113% targets of the “Shark” pattern were reached.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...