Daily Market Analysis

There’s a possible extension in wave (iii), so the market is likely going to decline in the short term.

The last bullish “Harami” doesn’t have a strong confirmation. In this case, the market is likely going to reach the closest resistance.

The nearest “Window” has acted as a resistance, so we’ve got a bearish “Shooting Star”.

The last “Triangle” has been transformed into a downward “Wedge”. So, bulls are likely going to test a resistance at 1.2522 – 1.2557.

There’s a bullish “Pennant”, so the market is likely going to test the nearest resistance at 1.0594 – 1.0655 in the short term.

3/8 MM Level has acted as a resistance, so the market is likely going to move down in wave (iii).

NZD/JPY falling inside minor impulse wave (iii) Next sell target - 75…

EUR/JPY broke support zone Next sell target - 116…

Trade scenarios for EUR/USD, GBP/USD and USD/CAD based on key option levels.

The price is consolidating under the Moving Averages. Therefore, the pair is likely going to achieve a support at 1.2347 – 1.2334.

We’ve got a “Flag” pattern, so bears are likely going to test the nearest support at 1.0551 – 1.0524 during the day.

EUR/CAD broke support zone Next sell target - 1…