Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
EUR/USD got scared of a Crab
TP1 1.2150 TP2 1.2080 TP3 1.1960
On the daily chart, EUR/USD keeps forming a «Widening wedge”. The inability of bulls to hold to 1.2307-1.2320 will point at their weakness and open the way down towards 127.2% target of AB=CD.
On H1, EUR/USD bears are ready to test the support at 1.2275. Success will allow them to trigger the “Crab” pattern with a target at 161.8%. Conservative approach means selling at 23.6% of the wave 4-5 of the widening wedge pattern.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
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...