On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/USD: euro got caught in the cross fire
On the EUR/USD daily chart, the Bears tried to launch a counterattack, but they stumbled upon the solid resistance.There are many buyers in the area of 1.108 - 1.112. As a result, a triangle was formed and the risks for consolidation within the range of 1.1125-1.1245. increased. To restore the uptrend, the May peak needs to be updated around 1.1265.
On the EUR/USD hourly chart, a breakout of the upper boundary of the descending trading channel does not guarantee the continuation of the rally. Bears might try to launch a counterattack in the area of 1.124-1.1245 (target 88,6% of the Shack inverted pattern.).
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining.
On the daily chart of EUR/GBP, the long-term consolidation within 0.87-0.902 is continuing.
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...