We’ve got a confirmed “Shooting Star”, but the price formed a pullback from the closest support.
Daily Market Analysis
The price has come back under 4/8 MM Level, so wave (ii) was likely ended.
The price is consolidating between the levels 1.2865 – 1.2774. The 34 Moving Average is going to act as a support.
There’s a “Double Top”, which has been confirmed. Therefore, the market is going to reach a support at 1.0698 – 1.0688.
CAD/CHF falling inside minor impulse wave (iii) Next sell target - 0…
AUD/CAD rising inside intermediate impulse wave (3) Next buy target - 1…
The main intraday target is 5/8 MM Level, which could be a departure point for wave (iii).
We’ve got a “Three Methods” pattern, which has been confirmed. So, bulls are likely going to test the 34 Moving Average.
We’ve got a “Shooting Star’ and a “Three Black Crows”, so the price is likely going to the lower “Window”.
Bulls faced a resistance at 1.2951, so we’ve got a “V-Top” pattern, which pushed the price to a support at 1.2774.
The main trend is still bearish. The price faced a resistance at 1.0739, so there’s a consolidation.
GBP/AUD rising inside impulse waves 3 and (3) Next buy target - 1…