Daily Market Analysis

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

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

On the daily chart of USD/JPY, the inability of bears to pull the pair below the uptrend channel points at their weakness.

On the daily chart, EUR/JPY is consolidating in the 126.55-128.9 range within the “Spike and ledge” pattern. A break of its upper border will increase the odds of a “Shark” pattern.

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

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen.

The US dollar index managed to recover and reach the psychological level at $95.

On the daily chart, the first attempt of GBP/USD to break above the downtrend channel failed.

On H1 of USD/CHF, bears are testing the lower border of the uptrend channel. Success will increase the odds of triggering the “Bat” pattern with a target at 88.6%.

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

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

On the daily chart, USD/CAD reached 127.2% and 200% targets of the senior and junior AB=CD. This increases the risks of a reversal.