EUR/USD: bears are out of their lair

EUR/USD: bears are out of their lair


SELL 1.2295

SL 1.2350

TP1 1.2185 TP2 1.2090 TP3 1.1965

On the daily chart of EUR/USD, there’s a “Widening wedge” pattern. The inability of bulls to return the pair inside the uptrend channel pointed at their weakness and increase the risks of correction towards convergence area of 1.2055-1.2090 and 1.1935-1.1965.


On H1, EUR/USD keeps forming a “Widening wedge”. Pullbacks towards 61.8% and 50% of the wave 4-5 allowed to form short positions. To develop correction in that direction, at least to 88.6% target of the “Shark” pattern, the pair needs to break below support at 1.2295.




USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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