EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
EUR/USD: triangle stopped the euro
TP1 1.1815 TP2 1.1845 TP3 1.191
On the daily chart of EUR/USD, the first attempt of bulls to lead the pair out of the descending triangle and trade channel failed. Bears seized the initiative. As a result, the pair risks consolidating in the 1.15-1.1850.
On H1, EUR/USD bulls are still hoping for “Wolfe waves” and “Shark” pattern. To do that, they will need to return the pair to resistance at 1.1745 and conquer it. Formation of the “Double top” increases the risk of a pullback from the lower border of the uptrend channel.
EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair.
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