The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
EUR/USD: bulls are retreating
SELL 1.2315 SL 1.237 TP1 1.2215 TP2 1.2095 TP3 1.205
SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.205
On the daily chart of EUR/USD, bears made the first attempt to pull the pair below support at 1.2245. As a result, it formed the junior pattern “Widening wedge”. To continue the decline the pair has to fall below April minimum.
On H1, there’s a “Widening wedge”. Pullbacks to 23.8%, 38.2% and 50% as usually are used for selling with targets at 78.6% of the Gartley pattern. At the same time, advance above 1.2417 will increase the odds of uptrend’s resumption.
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...