We’ve got a bearish “Three Methods” on the nearest “Window”. If this pattern confirms, this “Window” is likely going to be broken.
Daily Market Analysis
Trade scenarios for EUR/USD, GBP/USD and USD/JPY based on key option levels.
The 34 MA is acting as a support. Also, we’ve got a “Triangle”, so we should keep an eye on a resistance at 1.2547 as an intraday target.
We’ve got a pullback from a support at 1.0629, so a “V-Bottom” pattern has been formed.
GBP/AUD broke resistance zone Next buy target - 1…
AUD/USD falling inside sharp (c)-wave Next sell targets - 0…
There’s a possible flat pattern in wave (ii). Therefore, bulls are likely gong to deliver an impulse in wave c of (ii) during the day.
The 34 Moving Average acted as a resistance, so we’ve got a “High Wave”. However, there’s also a “Morning Star”.
The lower “Window” has acted as a support, so the market is likely going to test the 34 Moving Average in the short term.
There’s a developing “Triangle”, so the market is likely going to achieve the nearest resistance at 1.2547.
Bears faced a support at 1.0639. Also, there’s a “Triple Bottom”, so the market is likely going to rise towards the 34 Moving Average.
AUD/NZD reversed from support area Next buy target - 1…