Thursday mixed economic data didn’t let the US dollar index to break the psychological level at $95.
Daily Market Analysis
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.
Bullish Ichimoku Cloud with rising Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of GBP/USD, bears managed to fight off the bullish attack at resistance at 1.3455 and start their own advance. The pair triggered AB=CD pattern. Its 200% target is at 1.2870.
On the daily chart of USD/CHF, an advance to May high will trigger AB=CD pattern with a target at 224% and increase the odds of the pair getting to the target of “Wolfe waves” pattern.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal.
Wednesday is full of speeches of central banks’ Heads.
On the daily chart, USD/CAD almost reached convergence area of 1.3275-1.33 (200% and 127.2% targets of junior and senior AB=CD).
Recommendations: SELL 1290 SL 1305 TP1 1272 TP2 1244 BUY 1300 SL 1285 TP1 1324 TP2 1333 TP3 1349 On the daily chart, XAU/USD formed a “Broadening wedge”…