On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
EUR/USD: the Bulls returned euro to positive zone
Technical levels: support – 1.2350; resistance – 1.2400, 1.2440.
- Buy — 1.2360; SL — 1.2340; TP1 — 1.2440; TP2 — 1.2470
Reason: narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the market entered into the positive area breaking out the horizontal SSB’s resistance.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...