On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
EUR/JPY: euro is caught in consolidation
SELL 127.1 SL 127.65 TP1 126.55 TP2 126.1 TP3 123.5
BUY 128.5 SL 127.95 TP1 129.05 TP2 120.1 TP3 131.6
On the daily chart, EUR/JPY is consolidating in the 126.55-128.9 range within the “Spike and ledge” pattern. A break of its upper border will increase the odds of a “Shark” pattern. On the other hand, a successful test of a support at 126.55 will open the way down for bears.
On H1, EUR/JPY keeps forming “Wolfe waves” and the “Double top”, A successful test of support at 127.1 will allow bears to continue the way down. On the other hand, a rise above the upper border of the downtrend will give control to bulls.
On the daily chart of GBP/USD, bulls managed to hold the pair above the support at 1.3065 and above the upper boundary of the downward channel.
On the daily chart of USD/JPY, bears failed to break below the bottom line of the upward channel within the implementation of the “Three Indians” pattern.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...