On the daily chart, EUR/GBP is making a long-term consolidation in the 0.87-0.9015 range within a “Spike and ledge” pattern on the basis of 1-2-3. Within it, the pair formed a medium-term consolidation range of 0.87-0.89.
AUD/USD: bears acted right off the bat
TP1 0.8075 TP2 0.8125 TP3 0.8215
On the daily chart AUD/USD, an exit of the pair out of an upward trading channel and a break of support at 88.6% and 78.6% from the last wave showed a return of initiative to bears. They met an important area of 0.7885-0.7895 convergence, a continuation of a southern campaign is impossible without breaking below it.
On the hour chart, as the pair reached an intermediate target at 127.2% of the pattern “Crab”, the odds of a pullback increased. An update of the February low will allow counting on a realization of 161.8% target.
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”.
Irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
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.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…