Daily Market Analysis

Bearish Ichimoku Cloud, but rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with a rising Kijun-sen

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines

On the daily chart of EUR/GBP, bulls are ready to get the pair out of the 0.8700-0.8825 consolidation range (a “ledge”) within the ‘Spike and ledge” pattern on the basis of 1-2-3.

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the market is in correction to the Cloud.

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the market returned inside a Cloud, but may continue uptrend.

On the daily chart of USD/JPY, a “Shark” is transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% of the wave CD are usually used for opening long positions.

This increases the risks of a pullback to the lower border of the 129.15-132.15 consolidation range. To continue moving down, bears have to renew May low.

On the daily chart, GBP/USD is showing a sustainable uptrend within the correction to the long-term bullish trend.

On the daily chart, USD/CHF is pulling back to the medium-term uptrend. Bears failed to form “Spike and ledge” and bulls returned the initiative.

XAU/USD keeps forming a “Broadening wedge”. The pair’s correcting to 23.6%, 38.2% and 50% of the wave 4-5.

Bullish Ichimoku Cloud, but falling Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen

Bullish Ichimoku Cloud, but falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines