On the daily chart of EUR/JPY, bulls and bears are fighting for the upper boundary of the downward channel.
EUR/USD: euro looking for support on 1.2300
Technical levels: support – 1.2300; resistance – 1.2360, 1.2400.
- Buy — 1.2330; SL — 1.2310; TP1 — 1.2440; TP2 — 1.2470;
Reason: narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market had returned into the cloudy area and looking for the support to continue uptrend.
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...