Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
EUR/USD: bulls need a rest
On the daily chart, EUR/USD keeps forming “Spike and ledge with acceleration”. The trend’s angle is increasing the risks of correction. The inability of bulls to keep the pair above 1.2062 and 1.2156 (161.8% and 200% targets) points at their weakness.
On H1, EUR/USD formed 2 convergence areas with the help of senior and junior AB=CD patterns. The fall of the pair below the low of the bar, which marked the previous minimum, will signal the start of bears’ counterattack.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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