Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
EUR/USD needs correction
Recommendation: SELL 1.169 SL 1.1745 TP 1.1530
On the daily chart, there are patterns 1-2-3 and “Spike and reversal with acceleration”. The break of a trendline will increase the risks of correction towards the lower border of the trend channel. For the uptrend to resume, buyers need to conquer resistance at 1.1845 and then renew August high.
On H1, EUR/USD is forming a “Widening wedge” pattern. Break of support at 1.1690 will strengthen the risks of recoil towards 1.1500-1.1530. However, at first bears need to pull the pair below support at 1.1625-1.1650.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...