The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
EUR/USD: euro is oversold
Technical levels: support – 1.2180, 1.2125; resistance – 1.2260.
- Sell — 1.2260; SL — 1.2280; TP1 — 1.2180; TP2 — 1.2125;
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen and Kijun-sen; the prices are on new local lows, but the market is ovesold.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...