Daily Market Analysis

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen.

Friday is full of economic events.

On the daily chart of GBP/USD, bulls are trying to resume the uptrend with the help of the corrective “Three Indians” pattern.

USD/CHF keeps consolidating in the 0.9780-0.9995 range within the “Spike and ledge” pattern on the basis of 1-2-3. A break of its upper border will increase the odds of its getting to the 1.0195 target of “Wolfe waves” pattern.

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

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

On H1 of USD/JPY, bears have a chance to trigger the “Widening wedge” pattern.

On the daily chart, EUR/JPY is fighting for an important level of 128.85. If buyers win, the odds of triggering “Ideal butterfly” and “Shark” patterns with targets at 127.2% and 88.6% will increase.

On Tuesday, the US dollar index couldn’t break the psychological level at $95 again and turned to the support at $94.50.

On the daily chart of USD/CAD, the formation of the senior and junior AB=CD patterns provoked a pullback in line with the “Three moves” pattern.

On the daily chart of XAU/USD, the short-term downtrend continues in line with the formation of a “Double top”, AB=CD and a “Widening wedge”.

Expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a strong golden cross of Tenkan-sen and Kijun-sen.