EUR/GBP: bears are attacking

EUR/GBP: bears are attacking


SELL 0.8805

SL 0.886

TP1 0.874 TP2 0.8695 TP3 0.845

On the daily chart EUR/GBP, we see the continuation of the long-term consolidation in a range of 0.8695-0.9015 within the upward trend.  The break of its bottom line will increase risks of 200% target’s implementation of the AB=CD pattern.  To succeed, bulls have to hit the resistance at 0.8925.


On H1 of EUR/GBP, successful tests of the upward channel’s bottom line and support at 0.8805 may lead to the continuation of the sharp decline in the direction of 88.6% and 200% targets of “Shark” and AB=CD patterns.  



USD/JPY: new lows of the Dollar

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

AUD/USD: aussie in consolidation

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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