Daily Market Analysis

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the market made a new lows and will continue existing downtrend.

On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.

On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation.

On the daily chart of EUR/JPY, a successful break below the lower border of the 129.15-132.15 consolidation range will trigger AB=CD pattern with a target at 200%.

Bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen

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

Recommendations: BUY 1…

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new, but weak dead cross of Tenkan-sen and Kijun-sen

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

Recommendation: SELL 1…