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Recommendation:
BUY 1.322
SL 1.3165
TP1 1.332 TP2 1.3365 TP3 1.3455
On the daily chart of GBP/USD, bears try to break June lows. If they succeed, the AB=CD pattern with the 127.2% target will be implemented. At the same time, risks of the “Wolfe waves” pattern’s implementation will increase. It will limit the possibility of the correction to the long-term uptrend.
On H1, after the pair reached targets of the red “Wolfe waves” pattern, bulls are trying to pull the pair to targets of the blue one. If the pair breaks the resistance at 1.322 near 2-4 lines, odds of the upward movement will increase.
On the daily chart of NZD/USD, bears managed to take control over the situation and pull the pair towards the lower border of the upward channel due to the "Three Indians" pattern.
On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel.
Concerns about the US-China trade tensions returned. Does the technical analysis offer a way to make money on this development?
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…
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