On the daily chart, AUD/USD stayed above the support at 0.7105 (78.6% of the long-term rising wave).
EUR/GBP: bears seized the initiative
TP1 0.8745 TP2 0.8715
On the daily chart, EUR/GBP keeps consolidating in line with the “Spike and ledge” pattern on the basis of 1-2-3. The attempt of the bulls to hold at 0.8925 targeting 161.8% of the junior AB=CD failed. As a result, bears seized the initiative.
On H1, EUR/GBP reached the target of the “Widening wedge”. A break of support at 0.8820 will increase the risks of a “Shark” pattern with a target at 88.6%. The nearest resistance is near 0.8875.
On the daily chart, bulls managed to lead NZD/USD outside of the downtrend channel. They are ready to trigger the “Shark” with 88.6% and 113% targets.
On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...