Daily Market Analysis

The US dollar index is trading near the psychological level at $94.

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.

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.

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen with horizontal lines.

On the daily chart, EUR/GBP has been stuck in the 0…

On the daily chart of EUR/USD, bulls are trying to form a double bottom with the help of a bar with the long lower shadow. Bears are still hoping to trigger AB=CD pattern with targets 127.2%, 161.8%, and 200%.

Narrowing bearish Ichimoku Cloud with rising Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen.

Bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrow channel Tenkan-Kijun.

Thursday mixed economic data didn’t let the US dollar index to break the psychological level at $95.

On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel.

On the daily chart, EUR/JPY bulls are counting on the break of the upper border of the descending trend channel and advance to 88.6% target of the “Shark” pattern.