On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.
NZD/USD took a break
TP1 0.7700, TP2 0.7900
On the daily chart, NZD/USD reached 113% target of the inverted “Shark” pattern. This increases the risks of correction, but doesn’t cancel the long-term uptrend. Increase towards 0.7900 (161.8% target of AB=CD) will likely continue.
On H1, NZD/USD formed a triangle and a “Spike and ledge” pattern on the basis of 1-2-3. If the pair quits the 0.7460-0.7525 range, the uptrend may resume or the pair may correct towards the lower border of the trading channel.
On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.
On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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CHF/JPY broke powerful resistance level 115…