Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
EUR/JPY: the Japanese yen is strong
TP1 129.45 TP2 128.95 TP3 128
On the daily chart of EUR/JPY, the "Broadening wedge" pattern is at its last stage of the formation. To continue the rally, bulls have to break the resistance at 131.15 (23.6% of the 4-5 wave) and 133.15. Vice versa, a return of the pair within the downward channel will increase risks of the correction to the long-term upward channel.
On H1, when the pair reaches the 113% target of the "Shark" pattern and there is a rebound from the resistance at 130.45, it will be a signal to sell within the transformation of the "Shark" pattern to 5-0.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines.
On a daily chart of AUD/USD, 88.6% and 113% targets of the “Shark” pattern were reached.
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...