On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/JPY: inside bar will show the way
Recommendation: SELL 127.1 SL 127.65 TP1 126.1 TP2 125.5
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. Bears want to return the pair to the lower border of an inside bar near 127.10 and trigger AB=CD pattern with a target of 161.8%.
On H1 of EUR/JPY, a successful test of support at 127.1 will increase the odds of the pair getting to 88.6% target of a “Double top”. The nearest resistance levels are near 129.05 и 129.4.
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...