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.
USD/CHF: bullish potential
On the daily USD/CHF chart, there's a realization of the Wolfe waves pattern. Its first target is at the intersection of the projection from the point 5 and the wave 1-4. In order to make it bulls have to overcome resistance at 1.0040. Then the pair should resume rally towards 88.6% target of the inverted Shark pattern.
On H1, USD/CHF is moving inside the ascending channel. The bulls retain control for the pair. The break of resistance at 1.0034 will increase the risks of growth towards 1.013 (88.6% of the last descending wave) and higher.
Recommendation: BUY 1,0035 SL 0,9980 TP1 1,013 TP2 1,0205.
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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