On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel.
XAU/USD: gold bets on the double bottom
TP1 1,267 TP2 1,286 TP3 1,301
On the daily chart of XAU/USD, bears have tried to implement the “Shark” pattern with 88.6% and 113% targets twice. The failure of bears will let the pair reach targets of the “Double bottom” pattern and will create opportunities for a bullish counterattack.
On H1, a forming of “Three Indians” and “Broadening wedge” patterns within the convergence (88.6% and 113% targets of the “Shark” pattern) increases risks of the bearish trend’s reversal. To pull the pair up, bulls need to break the resistance at 1,245.
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
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…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…