There’s a new “Window”, but we’ve got a bearish “Belt Hold” at the local high.
Tag - eur
The last downward “Pennant” has been broken, wo we’ve got a “Breakaway Gap”.
The market’s attention is glued to the first round on French election on Sunday, April 23…
The 34 Moving Average has acted as a resistance, so we’ve got a “Doji” pattern on this line.
We’ve got a confirmed “Shooting Star”, but the price formed a pullback from the closest support.
EUR/USD was unable to rise above 1…
The price has come back under 4/8 MM Level, so wave (ii) was likely ended.
There’s a “Double Top”, which has been confirmed. Therefore, the market is going to reach a support at 1.0698 – 1.0688.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are breaking out the resistance of SSB; local market is overbought.
The main intraday target is 5/8 MM Level, which could be a departure point for wave (iii).
We’ve got a “Shooting Star’ and a “Three Black Crows”, so the price is likely going to the lower “Window”.
The main trend is still bearish. The price faced a resistance at 1.0739, so there’s a consolidation.