Trading forecast for June 22
Thursday mixed economic data didn’t let the US dollar index to break the psychological level at $95.
EUR/JPY: euro wants freedom
Recommendation:
BUY 130.3 SL 129.75 TP1 130.95 TP2 132 TP3 132.2
SELL 129.4 SL 129.95 TP1 128.4 TP2 128 TP3 126.7
On the daily chart of EUR/JPY, bulls keep trying to trigger “Shakeout-Fakeout” and “Shark” (targets at 88.6% and 113%). For that, they need to return the pair to the middle of the previous consolidation range of 129.15-132.15.
On H1 of EUR/JPY, a break of resistance at 130.30 will increase the odds of going to 88.6% and 113% targets of a “Shark” pattern. On the other hand, a decline below support at 129.4 will return the pair inside the downtrend channel and open the way down to 128 and 126.7.
Ivan Karamazov
Similar
USD/JPY: bears prepared a trap
On the daily chart of USD/JPY, bears are still hoping on the formation of the “Bat” in case of a break below the lower border of the uptrend channel.
EUR/JPY: inside bar will show the way
On the daily chart, EUR/JPY bulls are counting on the break of the upper border of the descending trend channel and advance to 88.6% target of the “Shark” pattern.
Popular
XAU/USD: Gold has come to the Rubicon
Recommendations: SELL 1282 SL 1297 TP1 1252 TP2 1244 TP3 1215 BUY 1308 SL 1293 TP1 1325 TP2 1335 TP2 1349 On the daily chart of XAU/USD, the 1282-1308 consolidation continues…
USD/JPY: dollar is overbought
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.
USD/CAD rising inside minor impulse wave 3
USD/CAD rising inside minor impulse wave 3 Next buy targets - 1…
Deposit with your local payment systems
