EUR/GBP: bulls control the situation
On the daily chart of EUR/GBP, after a plenty of attempts, bulls have managed to pull the pair out of the upper boundary of the 0.87-0.89 consolidation.
USD/JPY: a reversal is close
Recommendation:
SELL 110.85 SL 111.4 TP1 109.85 TP2 109 TP3 108.55
On the daily chart, USD/JPY is trading within an uptrend channel. Bulls remain in control of the situation. At the same time, the closeness of convergence area of 110.85-111.15 (61.8% of the last medium-term descending wave + 113% target of the “Shark”) increases the risk of bears’ counterattack.
On H1, the fact that USD/JPY is renewing May high will allow it to 161.8% and 200% targets of AB=CD and increase the odds of the reversal “Three Indians” pattern.
Ivan Karamazov
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On the daily chart of EUR/USD, the downward triangle is forming.
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Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal.
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EUR/USD: euro hung on Tenkan-Kijun
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141.30
GBP/JPY broke support level 141…
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