EUR/USD: Bulls looks forward

EUR/USD: Bulls looks forward

Technical levels: support – 1.2040; resistance – 1.2070, 1.2230.

Trade recommendations:

  1. Buy — 1.2040; SL — 1.2020; TP1 — 1.2160; TP2 — 1.2230

Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; a market is overbought.

01-eurusdh4.png

eur

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GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

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USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

chf
GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.

gbp

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