EUR/GBP: bulls befriend a dragon

EUR/GBP: bulls befriend a dragon


BUY 0.89

SL 0.8845

TP1 0.8985 TP2 0.904

On the daily chart, bulls are trying to catch hold of 0.8810 (50% of the last bullish wave). To counterattack in order to resume the uptrend, they need to conquer resistance at 0.8900. On the other hand, a break of support at 0.8775 will increase the risks of continuation of the decline.


On H1, a break of resistance at 0.8900 will create the potential for the realization of the “Dragon” pattern. However, for a start bulls have to defend current positions and form a “Double bottom”.



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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