Daily Market Analysis

On the daily chart of EUR/JPY, bears managed to pull the pair back to the medium term downward channel and implement the “Shark” pattern.

On the daily chart of USD/JPY, bears have been testing the bottom line of the upward channel.

If a pullback from the closest support at 1.1370 happens next, there'll be time for a bullish correction...

On the daily chart of USD/CHF, the pair has been reaching targets of the reversed “Shark” pattern with the 113% target.

On the daily chart of GBP/USD, the pair reached targets of senior and junior 1-2-3 patterns, as a result, the pair came back to the downward channel.

The market is likely going to test the next support area at 1.2913 - 1.2896. However, if a pullback from these levels happens next...

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen with horizontal lines.

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen.

The New Zealand’s dollar has long ago fallen out of traders’ favor…

There's also a bullish 'Engulfin', so the pair is likely going to test the nearest resistance at 1.1503...

Traders like central bank meetings as they drive markets a lot.

We should keep an eye on the nearest resistance at 1.3032 - 1.3047 as an intraday target. If a pullback from these levels forms...