AUD/USD: will Aussie catch a crab?

AUD/USD: will Aussie catch a crab?

On the daily chart, bears managed to reach 78.6% target of the Gartley pattern. If the current support at 0.7540 doesn's stop them, Gartley will transform into Crab pattern will increase the risks of decline towards 0.7315. The necessary condition for this scenario is a successful test of resistance at 0.7515.

On H1 AUD/USD is trading within a downtrend channel. Bears retain control for the pair. The best strategy is to sell Australian currency on its advance to 0.7595.

Recommendation: SELL 0,7595 SL 0,765 TP1 0,75 TP2 0,7315.  



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.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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