It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: the aussie can rise
BUY 0.726 SL 0.7205 TP1 0.736 TP2 0.7435 TP3 0.748, BUY 0.7215 SL 0.716 TP1 0.7315 TP2 0.736 TP3 0.7435
On a daily chart of AUD/USD, 88.6% and 113% targets of the “Shark” pattern were reached. This situation increases the risks of the reversal towards 23.6%, 38.2% and 50% from the CD wave as the “Shark” transforms into 5-0.
On H1, the reversal towards 38.2% from the old CD wave after reaching 88.6% target helped to form a long position. History repeats itself. The reversals towards 23.6% and 38.2% from the new CD wave make it possible to gain long position again.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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