Traders were toiling like galleys slave overnight as there were plenty of economic releases that led to some intraday moves…
Daily Market Analysis
Expanding bullish Ichimoku Cloud, rising Senkou Span A; a weak dead cross of Tenkan-sen and Kijun-sen; rising Tenkan-sen; the prices are in the support of Senkou Span A.
Expanding bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen and narrow channel of Tenkan-Kijun; the prices are under the Cloud and negative area, but there is a strong support on 1.0650/60.
AUD/NZD reversed from support area Next buy target - 1…
CAD/JPY reached sell target 82…
As we can see on the one-hour chart, there’s a bearish impulse in wave (i). So, we could have wave (ii) in the short term.
There’re a bullish “Engulfing” and a “Tower”, so bulls are likely going to test the nearest “Window” during the day.
The lower “Window” has acted as a support, so we’ve got a “Hammer” pattern, but its confirmation is a quite weak.
On the daily chart bears managed to lead the quotes out of the descending channel…
On the daily chart, bears managed to reach 78…
Trade scenarios for EUR/USD, GBP/USD and AUD/USD based on key option levels.
There’s a consolidation under Moving Averages. Also, we’ve got a “Pennant”, which is likely going to be transformed into a “Flag”.