EUR/USD: euro approached the wedge

EUR/USD: euro approached the wedge


BUY 1.1580

SL 1.1525

TP 1.1715, TP2 1.1780 

On the daily chart, EUR/USD has come close to the highest level since August 2015 and the interim 127. 2% target of the inverted “Crab” pattern. If the pair returns to 1.1714, it will form the “Widening wedge”. Traders should wait until the wave 4-5 finishes and use the following pullbacks towards 23.6%, 38.2% and 50% for opening long positions.


On H1, bulls are in full control of the pair. Return towards 1.1480 will allow forming a long position. In future use this same tactic.




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.

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”.

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.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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