The US dollar index is trading near the psychological level at $94.
EUR/JPY: will the pin bar scare sellers?
BUY 130.90 SL 130.35 TP1 131.90 TP2 132.60 TP3 133.00
SELL 129.15 SL 129.70 TP1 128.15 TP2 127.50 TP3 123.90
On the daily chart of EUR/JPY, a successful break below the lower border of the 129.15-132.15 consolidation range will trigger AB=CD pattern with a target at 200%. On the other hand, a pin bar and exit outside of the downtrend channel will allow bulls to counterattack.
On H1, a break of the diagonal resistance with the following successful test of 131.4 will trigger a “Bat” pattern. Its 88.6% target is at 133.
On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
We've got a pullback from the nearest "Window", so there's an "Engulfing" pattern. In this case, the pair is likely going to...