Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
EUR/USD: bulls showed weakness
On the daily chart, bulls failed to for an inverted "Head and shoulders" pattern. The Inability of the quotes to recoil up from the neckline points at buyers' weakness. If support at 1.0635 is breached, risks of further decline towards 1.05 and lower will increase.
On H1, EUR/USD reached an interim target of 78.6% of the Shark pattern. As a result, there's potential for the pattern to transform into 5-0. Correction towards 23.6%, 38.2%, and 50% is usually used for selling. Return to April's low will increase the risks of movement towards 113% target.
Recommendation: SELL 1.0705 SL 1.076 TP 1.057, SELL 1.077 SL 1.0825 TP1 1.065 TP2 1.057.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...