On the daily chart, EUR/GBP has been stuck in the 0…
EUR/USD: euro on new lows
Technical levels: support – 1.1670, 1.1620; resistance – 1.1760.
- Sell — 1.1760; SL — 1.1780; TP1 — 1.1670; TP2 — 1.1620;
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market made a new lows and goes to correction to the Cloud.
On the daily chart of EUR/USD, bulls are trying to form a double bottom with the help of a bar with the long lower shadow. Bears are still hoping to trigger AB=CD pattern with targets 127.2%, 161.8%, and 200%.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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.
We've got a pullback from the nearest "Window", so there's an "Engulfing" pattern. In this case, the pair is likely going to...