The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
EUR/USD: things are not good for the euro
TP1 1.1715 TP2 1.167 TP3 1.16
On the daily chart, EUR/USD created grounds for the realization of the |Head and shoulders” pattern. The necessary conditions include a break of support at 1.1805-1.1820 with the following exit of the pair outside of the uptrend channel. On the other hand, renewal of last high above 1.19 will increase the risks of the rally’s continuation.
On H1, EUR/USD the exit of the pair outside of the uptrend channel will create grounds for triggering AB=CD pattern. Its 127.2% target is near 1.1670.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...