Daily Market Analysis

On the daily chart, USD/CAD formed a “Broadening wedge”. A break of the upper border of the downtrend channel will increase the odds of a “Shark” pattern with targets at 88.6% and 113%.

On the daily chart, EUR/USD bulls are trying to keep the pair above 1.1445 (50% of the long-term bullish wave).

On the daily chart, USD/JPY keeps forming 161.8% target of AB=CD. As long as the pair is above 113.35 (61.8% of the descending wave), bulls are in control.

Expanding bullish Ichimoku Cloud but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines.

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen but the lines are horizontal.

Bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen.

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines.

On the daily chart, AUD/USD failed to rise above the upper border of the downtrend channel. Never the less, bulls are willing to repeat their attempt.

NZD/USD didn’t manage to return the pair to the 0.6710-0.6850 range from the first attempt and trigger “Shakeout-Fakeout” pattern.

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen but the lines are horizontal.