Is the EUR/USD About to Jump, While the AUD/USD Drops?

<p>Good day!</p>
<p>The EUR/USD has repeatedly tested the 1.0778 supporting level, closing Friday with a bullish engulfing pattern. Should the large triangle get broken through, the asset could potentially jump:</p>
<p><img class="alignnone size-large wp-image-42425" src="http://blog.tickmill.com/wp-content/uploads/2020/04/1-29-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/1-29-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/1-29-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/1-29-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/1-29.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /> Based on the latest data by COT CFTC, large operators keep expanding the long positions on Euro for the 7th week in a row:</p>
<p><img class="alignnone size-large wp-image-42432" src="http://blog.tickmill.com/wp-content/uploads/2020/04/2-23-1024×536.png" alt="" width="1024" height="536" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/2-23-1024×536.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/2-23-300×157.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/2-23-768×402.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/2-23.png 1129w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The price of Australian currency has closely approached the daily downtrend. From here the currency pair could potentially drop. If the downtrend gets broken, the asset might also test the 0.6700 level. All in all, it is wise to follow the candlestick formations:</p>
<p><img class="alignnone size-large wp-image-42433" src="http://blog.tickmill.com/wp-content/uploads/2020/04/3-13-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/3-13-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/3-13-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/3-13-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/3-13.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.</p>
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