Daily Market Analysis

Wave (i) is going to end soon. So, if a pullback from 7/8 MM Level happens, there’ll be time for an upward correction.

If any bullish pattern arrives on the closest support line, the pair is likely going to test the nearest resistance.

There’s a support by the lower “Window”. Also, we’ve got a developing “Hammer”, but the last bearish “Three Methods” is still on the table.

On the daily USD/CHF chart, there's a realization of the Wolfe waves pattern…

On the daily chart, bulls failed to for an inverted "Head and shoulders" pattern…

Trade scenarios for EUR/USD, GBP/USD and AUD/USD based on key option levels.

There’s a “Double Top”, which has been confirmed, so the uptrend was broken. The 55 Moving Average is acting as a support.

The price is moving in a range between the levels 1.0678 – 1.0639. Also, there’s a “Pennant” pattern, so bears are likely going to test a support at 1.0600 – 1.0594.

Narrowing bullish Ichimoku Cloud, falling Senkou Span A, the mood of a Cloud will be changed soon; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are going to the negative area.

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are under the Cloud and negative area, but there is a strong support.

CAD/JPY reversed from resistance zone Next sell target - 82…

GBP/CAD reversed from support zone Next buy target - 1…