The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
EUR/USD: will the euro fall?
TP1 1.163 TP2 1.166 TP3 1.169
On the daily chart, EUR/USD keeps consolidating in the 1.1510-1.1780 range in line with the “Spike and ledge” pattern on the basis of 1-2-3. A break of its lower border will trigger AB=CD pattern with a target of 200%. On the other hand, a successful test of resistance at 1.1760 will give bulls hope for the resumption of the uptrend.
On H1, there’s a transformation of a “Broadening wedge”. After reaching the 88.6% target of a “Shark”, there’s a big probability of a pullback towards 23.6%, 38.2% and 50% of the wave CD as the pattern is transforming into 5-0.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…