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).
GBP/USD: pound cannot get home
On the GBP/USD daily chart, there is a unique situation. Bears cannot return the quotes within the borders of the downwards trading channel. Bulls have no strength to return the pound to the upward trading channel. If target 88.6% of the Shark pattern is fulfilled and the 1-2-3 pattern is formed, there will be a rollback.
On the GBP/USD hourly chart, target 113% of the Shark pattern is fulfilled. If bears manage to test the support at 1.2893, there will be a transformation of the Shark pattern into the pattern 5-0.
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...