On the daily chart of EUR/USD, there is a transformation of the "Shark" pattern into 5-0.
EUR/USD is losing ground
TP1 1.1425 TP2 1.1310 TP3 1.1200
On the daily chart, bears managed to lead EUR/USD to the lower border of the 1.1510-1.1780 range. It was formed in line with a “Spike and ledge” pattern. A successful test of support at 1.1510 will increase the odds of AB=CD with the 200% target.
On H1, EUR/USD reached the targets of a “Broadening wedge” and 5-0. Pullbacks to 23.6% and 38.2% of the wave CD of the “Shark” pattern allowed to form short positions. A break of support at 1.1510 will trigger the AB=CD pattern.
On the daily chart of EUR/GBP, after implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns, there is a correction as a part of the "Shark" pattern's transformation into 5-0.
Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…