Pullbacks towards 23.6%, 38.2%, and 50% of the wave 4-5 can be used for selling with 161.8% target of AB=CD.
EUR/JPY: euro is resuming its trend
TP1 134.65 TP2 136
On the daily chart, EUR/JPY reached the targets of “Wolfe waves” pattern. A break of diagonal resistance at 2-4 increased risks of an uptrend’s resumption. To reach targets at 161.8% and 224% of AB=CD the pair should renew November high.
On H1, EUR/JPY formed “Wolfe waves” and “Deep Shark”. Correction to 23.6%, 38.2% and 50% of the wave CD are usually used for forming long positions as the Shark is transforming into 5-0.
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.
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...