On the daily chart, bulls failed to push USD/JPY above an important resistance at 112.45 from the first attempt.
EUR/GBP: bulls prefer a harmonic trading
TP1 0.8895 TP2 0.894 TP3 0.9015
On the daily chart of EUR/GBP, the reversed “Shark” pattern with the 88.6% target (50% from the long-term upward wave) is continuing to implement. It corresponds to the 0.894 mark. Bulls managed to stick above the important level of 0.881. If the pair is able to break the May high, EUR/GBP will continue its upward movement.
On H1, there are “Shark”, “Head and shoulders”, and “AB=CD” patterns. 88.6% and 224% targets of “Shark” and “AB=CD” patterns determine the area of the convergence near 0.894.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a newgolden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
Extremely narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
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...