Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
EUR/USD: gap formation was favorable for bulls
On the EUR/USD daily chart, there is an uptrend developing towards 161.8% и 88.6% targets in the AB=CD and Bat patterns. There was a gap on the technical chart. The bulls managed to test the resistance at 1.0822. Until quotes are still above this level, the control over the pair will in bulls' hands.
On the EUR/USD hourly chart, to launch the counterattack the bears need to get the signals from the Three movements pattern. For this to happen, the bulls should fail the test of the resistance at 1.087, then, prices should slide below the support at 1.0825.
Recommendation: hold longs (BUY 1,0775 SL 1,072 TP1 1,086 TP2 1,104), until quotes are above 1.082.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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