On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/JPY: yen is preparing another attack
TP1 128.30 TP2 127.95 TP3 127.45
On the daily chart, EUR/JPY pulled back after reaching 78.6% target of a Gartley pattern. Bulls want more and are ready to move to 88.6% target of the “Shark” pattern, but bears have other plans. They are counting on the formation of a “Bat”.
On H1, EUR/JPY keeps forming a “Spike and reversal with acceleration”. A successful test of the trendline of the initial stage will trigger AB=CD pattern.
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...