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.
XAU/USD: the triangle will be a judge
SELL $1268 SL $1280 TP1 $1237 TP2 $1212
BUY $1287 SL $1275 TP $1310 TP2 $1321
On the daily chart, XAU/USD formed a triangle. A break of its upper border close to $1266 an ounce will return the price inside the downtrend channel and increase the odds of achieving 78.6% and 200% of Gartley and AB=CD. On the other hand, successful test of resistance at $1288 will revive hope for the uptrend’s resumption.
On H1, XAU/USD formed a “Widening wedge”. Traders can bet on the break of $1268-1287 range.
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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