The US dollar index is trading near the psychological level at $94.
USD/JPY: yen found a dragon
On the daily chart, USD/JPY managed to overcome resistance at 100.52 (23.6% of the long-term descending wave) and quit the uptrend channel. To prove the seriousness of their intentions, bulls need to hold positions.
On H1, USD/JPY keeps forming the reversal “Dragon” pattern. To move up and keep forming the dragon’s head at the level of the dragon’s head (111.6) bulls need to conquer resistance at 110.92 and renew correction low at 111.05.
On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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.
We've got a pullback from the nearest "Window", so there's an "Engulfing" pattern. In this case, the pair is likely going to...