Daily Market Analysis

On the daily chart, EUR/USD came close to an important resistance at 1.1710 (38.2% of the long-term rising wave).

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

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.

On the daily chart, if EUR/JPY breaks the diagonal resistance and exits the uptrend channel, it may form AB=CD and trigger a “Broadening wedge”.

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

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

On the daily chart, bulls are trying to bring GBP/USD outside of the 1.2785-1.3050 consolidation range. It was formed in line with a “Spike and ledge”.

On the daily chart, USD/CAD is fighting for an important level of 23.6% of the long-term wave.

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen.

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

USD/CAD is fighting for the initiative near the correction high of the “Shark” pattern.

On the daily chart, XAU/USD bulls are still hoping to form a “Crab” with a 161.8% target. To begin with, they need to conquer 1209 (23.8% of the bearish wave).