EUR/USD: bulls entered a dangerous area

EUR/USD: bulls entered a dangerous area


SELL 1.1895

SL 1.1950

TP1 1.1820 TP2 1.1795 TP3 1.1735

On the daily chart, if EUR/USD renews November high, the odds of its getting to 161.8% target of AB=CD will increase. Never the less, if bulls fail to settle above resistance at 1.1965-1.1975, there may be a “Top/ Bottom 2B” strategy of Victor Sperandeo. Return of the pair to the candle’s low, at which it has a previous high, is a signal for selling.


On H1, the inability of bulls to keep pushing up increases the risks of a reversal “Widening Wedge” pattern.





GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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