We’ve got a “Triple Bottom”, so the market is going to test the nearest resistance between the 34 Moving Average and the level 1.0732.
Daily Market Analysis
CHF/JPY broke strong support zone Next sell target - 109…
AUD/JPY falling inside waves (iii) and C Next sell target - 82…
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.
If any bullish pattern arrives on the closest support line, the pair is likely going to test the nearest resistance.
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 USD/CHF chart, there's a realization of the Wolfe waves pattern…
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.
There’s a “Double Top”, which has been confirmed, so the uptrend was broken. The 55 Moving Average is acting as a support.
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.
Narrowing bullish Ichimoku Cloud, falling Senkou Span A, the mood of a Cloud will be changed soon; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are going to the negative area.