Bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern.
Daily Market Analysis
NZD/USD retested the neckline of the “Head and shoulders” and then went below the lower border of the 0.6710-0.6850 consolidation range.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with fallings lines.
On the daily chart, EUR/GBP tested the upper border of the 0.8700-0.9020 range. It was formed in line with the “Spike and ledge”.
On the daily chart, bears managed to lead EUR/USD to the lower border of the 1.1510-1.1780 range.
On the daily chart, bears managed to seize the initiative and return USD/JPY to the long-term downtrend channel.
On the daily chart of EUR/JPY, bears pulled the pair below an important support at 128.85 (38.2% of the long-term rising wave) and are trying to return it to the descending channel.
Bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart, GBP/USD keeps forming a “Shark” pattern. The pair got close to its 113% target near 1.2855.
USD/CHF is forming a “Triangle”. A break of its upper border near 1.0070 will open the way to the target of “Wolfe waves” pattern for buyers.