Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.
EUR/USD: euro is preparing an attack
TP1 1.2000 TP2 1.205
On the daily chart, EUR/USD bulls are preparing to test resistance at 1.1875-1.1885 and trigger the inverted “Shark” pattern. In case of success, risks of reaching 88.6% will increase. Failure will lead to consolidation in the 1.1710-1.1885 range.
On H1, EUR/USD reached the targets of the “Widening wedge”: after a pullback from 38.2% of the wave 4-5 and return to 23.6% there was a possibility to form long positions. To increase them one may use resistance at 1.1875 and trigger AB=CD pattern.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are corrected to Kijun’s resistance and may continue the downtrend.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with the rising lines; the prices entered inside a Cloud and fixed up above Tenkan-sen.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.