Daily Market Analysis

Narrowing bullish Ichimoku Cloud, falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are under the Cloud and formed the new lows.

Australian manufacturing PMI and NZ terms of trade kicked the Asian session off but did little to give rise to market fluctuations…

AUD/CHF reversed from powerful resistance level 0…

EUR/USD reversed from support zone Next buy target - 1…

The upper "Window" has acted as resistance, so we've got bearish patterns such a "Harami" and a "High Wave".

The last "Three Methods" pattern pushed the price higher, so we've got a new local high.

There's a consolidation, which is taking place on the four-hours chart. Moreover, we've got a "Flag".

The price faced support at 1.1103, so we've got a "V-Bottom" pattern, which pushed the pair towards resistance at 1.1204.

On the EUR/USD daily chart, the Bears tried to launch a counterattack, but they stumbled upon the solid resistance…

Recommendations: BUY 0,978 SL 0,9725 TP 0,995…

The British pound fell sharply with a YouGov/Times poll showing the ruling Conservatives could lose 20 seats and their majority in parliament at the coming June election…

The price is likely going to test 8/8 MM Level once again. If we see another pullback from this Level, wave (i) is going to be continued.