On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/JPY: euro is hunting sharks
TP1 130.90 TP2 132.00 TP3 133.40
On the daily chart, bulls counterattacked after EUR/JPY reached 161.8% target of AB=CD. They managed to return the pair inside the previous consolidation range of 129.15-132.15. If the pair moves to its middle, it will trigger a “Shark” pattern with 88.6% and 113% targets and “Shakeout-Fakeout” pattern.
On H1, if EUR/JPY rises above the upper border of the downtrend channel, it will increase the odds of the pair getting to 88.6% and 113% of the “Shark”.
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining.
On the daily chart of EUR/GBP, the long-term consolidation within 0.87-0.902 is continuing.
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...