The market is likely going to test the nearest “Window”, which could act as a support.
Tag - eur
Wave (iii) has been ended on 7/8 MM Level, so it’s time for correction.
On the EUR/JPYdaily chart, after reaching 161…
Bulls faced a resistance at 1.0951, so we’ve got a “Double Top”, which pushed the price to the “Wedge” pattern.
Expanding bullish Ichimoku Cloud, but Senkou Span A and B are horizontal; a golden cross of Tenkan-sen and Kijun-sen, the horizontal Kijun-sen; the prices are under strong resistance on daily timeframe; the local market is overbought and waiting for correction to Kijun-sen.
There’s a pullback from 7/8 MM Level, so wave (iii) ended, so bears are going to deliver wave (iv).
EUR/AUD broke resistance zone Next buy target - 1…
We’ve got a bearish “Tweezers”, so bears are likely going to test nearest “Window”.
Bulls have broken the “Wedge’s” upper side, but the price faced a resistance at 1.0951 afterwards.
There’s a possible double zigzag in wave (iii). It’s likely that wave [C] of y is going to end soon.
Monday’s “Window” are pushing the price even higher despite of the last “Belt Hold” pattern.
Now, when political risks amid French presidential elections have faded, euro traders will focus on the Thursday’s European Central Bank monetary policy meeting and press conference…