Recommendation: BUY 0…
EUR/JPY: euro faced with the wedge
SELL 123,6 SL 124,15 TP1 122,25 TP2 120,8,
BUY 124,3 SL 123,75 TP1 125,2 TP2 128.
On the EUR/JPY daily chart, bears are preparing for the counterattack to stop the rally towards 161.8% target in the Crab pattern. If they succeed, the quotes will probably roll back towards the 23.6%, 38.2% and 50% levels of the CD wave.
On the EUR/JPY hourly chart, the expanding wedge pattern was formed. A return of quotes towards the level of 23.6% of the 4-5 wave will allow us to open short positions. In contrast, the euro upsurge towards 124.3 might lead to the uptrend restoration.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
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.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…