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 is driving wedges
SELL 1.2310 SL 1.2365 TP1 1.2210 TP2 1.2155 TP3 1.2080
SELL 1.2355 SL 1.2410 TP1 1.2255 TP2 1.2155 TP3 1.2080
On the daily chart, the return of EUR/USD inside the uptrend channel will increase the risks of the pair going to 161.8% and 224% of AB=CD patterns. On the other hand, if the euro falls to February lows, it will then go to 88.6% target of the “Shark”.
On H1 of EUR/USD, there is a “Widening wedge” pattern. Pullbacks from resistance at 38.2% and 50% of the wave 4-5 may be used for opening long positions. A break of 1.2470 and 1.2510, on the other hand, will open the way to the north.
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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