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.
EUR/JPY: bears are laying down conditions
SELL 130.85 SL 131.4 TP1 129.85 TP2 129.15 TP3 127.4
SELL 129.35 SL 129.9 TP1 128.35 TP2 127.4 TP3 125.75
On the daily chart, EUR/JPY keeps forming a “Shakeout-Fakeout” pattern. The return of the price to the middle of 129.15-132.15 allowed forming short positions. To continue the decline, bears need to pull the euro below 129.15.
On H1, EUR/JPY reached 113% target of the “Shark” pattern and the risks of a pullback to 23.6%, 38.2% and 50% of the wave CD increased. Such corrections are usually used for selling.
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…
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.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…