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 have situation under control
Recommendations: BUY 124,9 SL 124,35 TP1 126,2 TP2 128.
On the EUR/JPY daily chart, there is a continuation of the upward movement within the framework of the boundaries of the Deep Shark pattern. Its target is located at 161.8% of the BC wave; it corresponds to the level of 128. Bears' attempt to launch a counterattack has failed; it has become a signal of their weakness.
On the EUR/JPY hourly chart, quotes are moving within the upward trading channel in the direction of the 113% target in the Shark inverted pattern. The signal for opening long positions might occur when quotes go beyond the boundaries of the triangle.
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…