USD/JPY: the Dollar tested a Cloud’s resistance
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen.
EUR/USD: euro is choosing a way
Recommendation:
BUY 1.1720 SL 1.1665 TP1 1.1780 TP2 1.1910 TP3 1.2070
SELL 1.1665 SL 1.1720 TP1 1.1565 TP2 1.1535
On the daily chart of EUR/USD, bulls managed to lead the pair out of the downtrend channel. They want to trigger a “Crab” pattern with the target at 161.8% and a “Dragon”.
On H1 of EUR/USD, a successful test of resistance at 1.1720 will allow bulls to continue the rally towards 78.6% target of the Gartley pattern. On the other hand, a return to support levels at 1.1665 and 1.1650 will increase the risks of “Wolfe waves” and “Shark” reversal patterns.
Ivan Karamazov
Similar
AUD/USD: aussie inside a Cloud yet
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen.
USD/CHF: the franc is weak
On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
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