EUR/GBP: bulls are restoring authority

EUR/GBP: bulls are restoring authority

Recommendation:

BUY 0.8940

SL 0.8885

TP1 0.9040 TP2 0.9100

On the daily chart, EUR/GBP is trying to break out of the medium-term descending channel. This is a bullish signal. Formation of the “Double bottom” pattern points at the uptrend’s resumption.

EURGBP1.png 

On H1, a break of resistance at 0.8940 and triggering of an inverted “Ideal butterfly” will increase the odds of reaching a 127.2% target. At the same time, in case of the break of 88.6% of the wave 4-5 a “Widening wedge” will be formed.

EURGBP2.png

Similar

USD/CAD: the fights around 1.28

A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.

cad
Gold is moving in channels

Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…

USD/JPY: the Dollar reached 111.50

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.

jpy

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