EUR/USD: euro caught the Bat's tail

EUR/USD: euro caught the Bat's tail

Recommendation: BUY 1,108 SL 1,1025 TP1 1,121 TP2 1,13. 

On the EUR/USD daily chart,  the target 88.6% of the "Bat" pattern was fulfilled. As a result, the risks of correction towards 1.113 (61.8% of the last downward medium-term wave) and 1.108 (the upper border of the previous upward trading channel) increased. The trend is still bullish, so rollbacks can be used for opening long positions.

On the EUR/USD hourly chart, there is a break of the lower border of the upward trading channel. A successful test of the support at 1.1165 will lead to the activation of the Shark pattern with a target of 1.108.


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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