EUR/USD: 4/8 MM Level acted as resistance twice

EUR/USD: 4/8 MM Level acted as resistance twice


The price has been declining in wave [i] since a pullback from 3/8 MM Level was formed. The main bearish target is 0/8 MM Level, which could be a departure point for an upward correction.


4/8 MM Level has acted as resistance twice. In this case, wave ii of (iii) may have been ended, so bears are likely going to deliver wave iii of (iii) in the coming hours. Therefore, we should keep in mind 1/8 MM Level as an intraday target.




USD/JPY: dollar is corrected to Kijun-sen

Expanding  bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.

USD/JPY: dollar can’t breakout SSA’s resistance

Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.


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