EURUSD remains in bearish mode after only three wave rally from 1.2750 low that was just another temporary pause within ongoing bearish sequence.
EURUSD 4h:
What is edning diagonal?
An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast, as Elliott put it
Ending diagonal in a bull market:
USDJPY: Broken Channel Puts Pair Back In Bullish Mode
USDJPY broke sharply higher which was expected from a technical point of view. Price accelerated strongly after break out of the corrective channel (circled zone).
GBPUSD Could Hit 1.5350-1.5400 While 1.5000 Is In Place
GBPUSD found a support yesterday 30 pips above 1.5000 psychological level from where intra-day bulls lift the pair in impulsive manner back above 1.5200 level.
Cable Is Breaking Higher, Now Targeting 50% Retracement Level From January Highs
GBPUSD closed strongly higher last week after recently broken trend-line connected from above 1.6300 which suggests that recovery from 1.4830 could be deeper than firstly thought.
EURUSD Could Make Reversal Down to 1.2900/50 From 1.3100 Resistance
EURUSD extended another 200 pips higher since Friday, so now we are even more confident that low on EURUSD is in place which was expected because of ending diagonal, reversal pattern placed in wave 5).
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