GBP/USD is losing ground
On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
EUR/JPY: bears pull back, but don’t give up
Recommendation:
BUY 131.80 SL 131.25 TP 132.80
SELL 130.50 SL 131.05 TP1 129.50 TP2 128.90
On the daily chart of EUR/JPY, the pair’s exit from the descending channel will create grounds for the “Shark” pattern. The necessary condition for further decline is the successful test of support at 130.50.
On H1, EUR/JPY keeps forming “Wolfe waves” pattern. Bulls are also trying to trigger the junior “Shark” pattern. If they succeed, the odds of advance to its 113% target and then to 78.6% and 88.6% targets of the senior “Shark” pattern will increase.
Ivan Karamazov
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Morning brief for June 2
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
Highlights of the ECB meeting and press conference.
The European Central Banks left its key interest rates…
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