On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.
NZD/USD: bulls are trying to go higher
SELL 0.701 SL 0.7065 TP1 0.6945 TP2 0.6905 TP3 0.685
BUY 0.706 SL 0.7005 TP1 0.7125 TP2 0.719 TP3 0.7285
On the daily chart of NZD/USD, bulls managed to pull the pair out of the downward channel. They are trying to push the pair to 50% and higher of the CD wave of the “Bat” pattern. To continue the rally, the pair needs to break the June high.
On H1, “Three Indians” and 1-2-3 patterns increase odds of the correction to the current short-term uptrend. Firstly, bears need to break the support at 0.701.
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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.
We've got a pullback from the nearest "Window", so there's an "Engulfing" pattern. In this case, the pair is likely going to...