The price is still consolidating under a resistance at 1.0951. Also, there’s a developing “Triple Top”.
Tag - eur
EUR/USD opened the week with a bullish gap on the news that a pro-European candidate Emmanuel Marcon won the most votes in the first round of French presidential election…
The price is testing 7/8 MM Level, which previously has acted as a resistance. So, wave (iii) is likely going to end soon.
The 55 Moving Average has acted as a support, so the price is rising. At the same time, we’ve got an “Evening Star”.
There’s a possible “Triple Top” pattern, so the market is likely going to decline towards the nearest support at 1.0819 – 1.0729.
The market is likely going to test the nearest “Window”, which could act as a support.
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…