EUR/USD reversed from support zone Next buy target - 1…
CAD/JPY reversed support zone
- CAD/JPY reversed support zone
- Next buy target - 85.00
CHF/JPY continues to rise inside the minor impulse wave 3, which started earlier from the support area lying between the key support level 113.00 (previous sell target), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse 1 from the middle of April. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. CHF/JPY is expected to rise to the next buy target at the next resistance level 115.15 (top of impulse 1).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.