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: bulls are dreaming about the rise
Recommendations:
BUY 131.65
SL 131.1
TP1 132.65 TP2 133.7 TP3 134.3
On the daily chart EUR/JPY, the pair reached the 113% target of the “Shark” pattern. As a result, risks of the correction increased. The return of the pair to the previous low is a necessary condition for its implementation. If bulls fail, it will mean their weakness.
On H1, EUR/JPY reached targets of the triangle. Currently, “Wolfe Waves” pattern is developing. To implement it, the pair should come back to the resistance at 131.65 with its subsequent successful test.
Ivan Karamazov
Similar
USD/CHF: franc is showing signs of live
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
GBP/USD: pound may continue downtrend
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
Popular
AUD/USD: bulls cant breaking out SSB’s resistance
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.
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…
Deposit with your local payment systems
