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: franc is riding the waves
BUY 0.9720, SL 0.9665, TP1 0.9860, TP2 0.9890
On the daily chart, USD/CHF has reached the targets of “Wolfe waves” pattern. Thanks to it, the pair left the medium-term bearish channel. If the pair rises to July high, there may be a correction towards the upper border of the descending trend.
On H1, USD/CHF formed a “Dragon” pattern. At the moment, it’s forming the “Head of a dragon” or consolidating in the 0.9660-0.9720 area. The break of the upper border will increase the risks of a rally.
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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CHF/JPY broke powerful resistance level 115…