EUR/JPY broke key support level 131…
EUR/AUD reversed from resistance zone
- EUR/AUD reversed from resistance zone
- Next sell target - 1.5400
EUR/AUD recently reversed down from the resistance zone lying between the multi-month resistance level 1.5630 (which reversed the previous sharp weekly correction in May of 2016, as can be seen below) and the upper weekly Bollinger Band. The downward reversal from this resistance zone stopped the previous intermediate impulse wave (C). EUR/AUD is expected to fall to the next sell target at the next support level 1.5400.
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.