Wave (i) is going to end soon. So, if a pullback from 7/8 MM Level happens, there’ll be time for an upward correction.
Tag - eur
There’s a support by the lower “Window”. Also, we’ve got a developing “Hammer”, but the last bearish “Three Methods” is still on the table.
On the daily chart, bulls failed to for an inverted "Head and shoulders" pattern…
Trade scenarios for EUR/USD, GBP/USD and AUD/USD based on key option levels.
The price is moving in a range between the levels 1.0678 – 1.0639. Also, there’s a “Pennant” pattern, so bears are likely going to test a support at 1.0600 – 1.0594.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are under the Cloud and negative area, but there is a strong support.
We assume that in the short-term the euro may go lower by the sheer force of gravitation…
The last bullish “Harami” hasn’t been confirmed. Also, we’ve got a bearish “Three Methods”.
We’ve got a triangle in wave (Y) of [B], so bears formed a wedge in wave 1. Also, there’s wave 2, which was ended last month.
On the daily chart, EUR/JPY is trading within descending channel…
All Moving Averages have been broken, so bears achieved a support at 1.0639, which pushed the price to a resistance at 1.0678.
Trade scenarios for EUR/USD, AUD/USD and USD/CAD based on key option levels.