AUD/USD: the Aussie is not afraid of waves

AUD/USD: the Aussie is not afraid of waves

Recommendations:

BUY 0.7815

SL 0.776

TP 0.7905 TP2 0.7985 TP3 0.8075

On the daily chart AUD/USD, the “Wolfe waves” pattern is developing. If bulls manage to return the Aussie to the resistance at $0.7815, break it and take the pair beyond the downtrend channel, risks of the uptrend’s recovery will increase.

audusd_d.png

On H1 of AUD/USD, the break of the resistance at 23.6% from the last downtrend wave with the subsequent successful hit of the upper bound of the bearish channel will implement “Bat” and “Crab” patterns with 88.6% and 161.8% targets. 

audusd_60.png

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EUR/USD: euro wants to surf

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.  

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