EUR/USD is hunting bats

EUR/USD is hunting bats

Recommendations:

BUY 1.1615

SL 1.1560

TP1 1.1715 TP2 1.1790 TP3 1.1910

On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”. To do it, they will need to lead the pair out of the downtrend channel, push it above resistance at на 1.1755 and then renew July high.

EURUSD D1.png 

On H1, if EUR/USD reaches 88.6% target of a “Bat”, it will allow locating support.  A pullback from it will create the ground for long positions.

EURUSD H!.png

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USD/CAD: sellers lost the initiative

On the daily chart, bears tried to form “Three Indians”, 1-2-3 and “Bat” with 88.6% target but failed to bring USD/CAD to an important support at 1.2925.

AUD/USD fell from the ledge

Bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern.

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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