On a daily chart of EUR/JPY, the consolidation as a part of the implementation of the “Broadening wedge” pattern continues.
Daily Market Analysis
On a daily chart of USD/JPY bulls could not move the pair outside the triangle.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with narrowing channel Tenkan-Kijun.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
USD/MXN has met resistance at the line connecting 2017 and 2018 highs.
USD/CHF formed a bearish “flag”. It’s trading below the 50-day MA at 0.9937.
The USMCA agreement between the US, Canada and Mexico and the new president-elect inauguration were expected to shed some light to the MXN. However, the election of Andres Manuel Lopez Obrador resulted in many uncertainties for the investors and therefore weakened the Mexican peso.
We should keep an eye on the closest resistance at 1.1309 as a possible departure point for a decline in the direction of...
We're likely going to have a new local low soon. In this case, we should watch the nearest support...
Irregular bearish Ichimoku Cloud with rising Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
On a daily chart of USD/CHF, there is a reversal as a part of a transformation of the “Shark” pattern into 5-0.