EUR/USD: bullish "High Wave"

EUR/USD: bullish "High Wave"

0507eurusdh4-2.png

The price is still declining, so the last "Three Methods" pattern is still on the table. Also, there isn't any reversal model so far. In this case, the market is likely going to continue moving down towards the lower "Window".

0507eurusdh1-2.png

We've got a bullish "High Wave", but confirmation of this pattern is a quite weak. Therefore, the market is likely going to test the 55 Moving Average, which could be a departure point for another decline towards the 144 MA.

eur

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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