On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/JPY: bears want to develop correction
Recommendation: BUY 124,9 SL 1,2435 TP 127,9.
On the EUR/JPY daily chart, bears launched a counterattack willing to develop correction and push quotes beyond the upward trading channel. As a result, the Double-Top pattern was formed. To restore the uptrend, buyers need to test the resistance at 125.75.
On the EUR/JPY hourly chart, there is a consolidation in the range of 124.15-124.5. A breakout of its lower border can result in the development of the correction towards 122.85 (88.6% target in the Shark pattern). A successful test of the resistance at 124.9 can lead to the uptrend restoration.
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining.
On the daily chart of EUR/GBP, the long-term consolidation within 0.87-0.902 is continuing.
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...