Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
EUR/USD: bears hit the breaks
BUY 1.1840 SL 1.1785 TP1 1.1940 TP2 1.2055 TP3 1.2175
SELL 1.1775 SL 1.1830 TP1 1.1690 TP2 1.16650 TP3 1.1550
On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern. On the other hand, successful test of the lower border of an inside bar will allow bears to continue moving south.
On H1, EUR/USD bulls managed to bring the pair out of the descending trend channel but to counterattack, they need to push the price above the resistance at 1.1840.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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