Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
EUR/USD: bears are preparing for breakout
On the EUR/USD daily chart, quotes returned to the border of the upward trading channel. There is the diagonal support. If the bears manage to test it, the update of the April low will open the way towards 1.046 and 1.0405. To regain control over the pair, the bulls will need to raise the euro above 1.0695.
On the EUR/USD hourly chart, there was an unsuccessful return of quotes to the consolidation range of 1.0635-1.0685. Bulls showed their weakness having failed to consolidate there. As a result, a triangle was formed. A breakout of its lower border near 1.0595 will increase the risk of continuation of the downward movement.
Recommendation: SELL 1,0595 SL 1,065 TP 1,046.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of USD/JPY, a break of the support at 112.85 and an exit out of the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" patterns.
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...