EUR/GBP: bears – bulls 5:0

EUR/GBP: bears – bulls 5:0


SELL 0.8785 SL 0.884 TP1 0.8695 TP2 0.8525 TP3 0.845

SELL 0.881 SL 0.8865 TP1 0.8695 TP2 0.8525 TP3 0.845

On the daily chart of EUR/GBP, there is a continuation of a medium-term consolidation in the range of 0.8695-0.9015 within the “Spike and ledge” pattern.  The first break of its bottom line was unsuccessful, however, bears still hope and are ready to repeat the break after a small pullback.


On H1, there is a transformation of the AB=CD pattern to 5-0. Usually, pullbacks in the direction to 38.2%, 50%, and 61.8% are used for a formation of short positions.



NZD/USD: bears are hunting a crab

On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.

GBP/USD: pound going lower

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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