A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
EUR/JPY: bulls counterattack, but...
SELL 133.40 SL 133.95 TP1 132.40 TP2 131.30
SELL 134.20 SL 134.75 TP1 133.20 TP2 132.40 TP3 131.30
On the daily chart, EUR/JPY after reaching 113% target of the “Shark” made a natural pullback. Now it’s transforming into 5-0. Usually, correction towards 50% of the wave CD is used for selling.
On H1 of EUR/JPY, a break of resistance at 132 will trigger the “Shark” and increase the odds of the “Wolfe waves” pattern. The target of the later will allow finding a convergence area 134.15-134.3.
Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.
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.
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