EUR/JPY: bulls are painting AB=CD

EUR/JPY: bulls are painting AB=CD


BUY 135.00

SL 134.45

TP1 136 TP2 137 TP3 138

On the daily chart, EUR/JPY bulls are trying to continue going up to 200% of AB=CD. Never the less, if bears manage to return the pair inside the previous consolidation range of 131.50-133.95, the risks of a reversal “Shakeout-Fakeout” pattern will increase.


On H1, after reaching the targets of the “Widening wedge” and rebound from support at 134, the rally continued. To seal their success, bulls need to renew December high.



GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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