On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.
EUR/JPY: bulls are trying to resume the uptrend
TP1 132.65 TP2 133.25 TP3 136.65
On the daily chart of EUR/JPY, the “Shakeout-Fakeout” pattern is implementing. It is worth to sell at the 130 level. To resume the uptrend and reach the 88.6% target of the “Shark” pattern, the pair needs to break the April high.
On H1, bulls hope to implement the corrective “Three Indians” pattern. To succeed, bulls need to break the resistance at 131.85 and pull the pair out the downward channel.
On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.
On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
CHF/JPY broke powerful resistance level 115…