AUD/USD: the bulls will be given a third attempt

AUD/USD: the bulls will be given a third attempt

Recommendation: BUY 0,7625 SL 0,757 TP1 0,771 TP2 0,78. 

On the AUD/USD daily chart, the implementation of the inverted Bat pattern continues. Its target 88.6% is located near 0.771. Bulls twice tried to test the resistance at 0.7612 but failed to do so. As a result, an internal bar pattern was formed. A successful test of its high may lead to the restoration of the uptrend.

On the AUD/USD hourly chart, there was a realization of the Dragon pattern. If quotes move beyond the triangle, the risks for the realization of the inverted Crab pattern with target 0.78 will increase.

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EUR/GBP: pound is chasing a bat

On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.

EUR/USD: bears hit the breaks

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.

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