Tag - eur

The main trend is still bearish. The price faced a resistance at 1.0739, so there’s a consolidation.

Wave (ii) is about to end. Therefore, if a pullback from 4/8 MM Level happens, there’ll be an opportunity to have an impulse in wave (iii).

The lower “Window” is acting as a support, so there’s a developing “Three Methods” pattern.

The upper side of the last triangle has been broken, so the price reached a resistance at 1.0739.

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are tested the resistance if upper border of the Cloud.

Wave (ii) has turned out to be deeper. However, the bearish wave count is still on the table.

The last bullish “Hammer” led to the current upward price movement.

The price is still moving up and down in a range of the developing “Triangle” pattern.

There’s a diagonal tringle in wave c of (ii), which led to form a wedge in wave i of (iii).

The 34 Moving Average and the upper “Window” have acted as a resistance.

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are in a same value; the prices are supported by bottom border of the Cloud.

On the EUR/JPY daily chart, quotes fell to the lowest level since November 2016…