Recommendations: SELL 0…
EUR/USD: bears wait for their chance
SELL 1.2445 SL 1.25 TP 1.2345 TP2 1.22
SELL 1.2335 SL 1.239 TP1 1.2235 TP2 1.22
On the daily chart of EUR/USD, there’s a sustainable uptrend. Bulls are getting ready to test a 3-year high to reach 200% target of AB=CD. Failure or inability to fix above 1.2535 will be the first signal of buyers’ weakness.
On H1, EUR/USD bulls have to fear the formation of a “Widening wedge”. For that the euro needs to decline below $1.2335. Aggressive sell position is possible at the low of the bar #2.
Recommendations: SELL 1…
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
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.
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.