On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
EUR/USD: counterattack of the Bulls
Technical levels: support – 1.2200; resistance – 1.2300.
- Sell — 1.2280; SL — 1.2300; TP1 — 1.2200; TP2 — 1.2150
Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the market made a new lows and bounced to Kijun-sen.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...