On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.
EUR/USD: euro painted a wedge
SELL 1.1870 SL 1.1925 TP 1.1755
SELL 1.1910 SL 1.1965 TP 1.1790
On the daily chart, EUR/USD keeps forming “Shark” pattern and “Head and Shoulders”. Further fate of the pair will depend on the test of the neckline. There’s an important resistance at 1.1860-1.1865.
On H1, EUR/USD is finishing “Widening wedge” pattern. A successful test of resistance at 1.1805 will trigger the “Dragon” pattern and increase the odds of growth towards 50%, 61.8% and 78,6% of the wave 4-5. The sellers will take it from there.
On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.
On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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