EUR/JPY broke key support level 131…
EUR/AUD broke resistance zone
- EUR/AUD broke resistance zone
- Next buy target - 1.5740
EUR/AUD continues to rise inside the minor impulse wave 3 – which recently broke the resistance zone lying between the key resistance level 1.5380 (previous buy target and the top of the earlier sharp impulse wave (i)) and the resistance trendline of the daily up channel from the middle of July. EUR/AUD is expected to rise further in the accelerated impulse wave 3 toward the next buy target at the next resistance level 1.5740 (target for the completion of the active impulse 3).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.