EUR/USD: things are not good for the euro

EUR/USD: things are not good for the euro


SELL 1.1815

SL 1.187

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.




GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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