Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/GBP: bulls aim for a breakthrough
Recommendation:
BUY 0.8990
SL 0.8935
TP1 0.9090 TP2 0.92 TP3 0.9730
On the daily chart, EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern. An advance above the upper border of the “ledge” will increase the odds of getting to 161.8% target of AB=CD.
On H1, EUR/GBP is in a sustainable uptrend. In a situation like this, it’s better to buy on the break of the key resistance levels or on a fading correction.
Ivan Karamazov
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How to trade EUR/GBP?
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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