The EUR/USD currency pair continues moving according to our forecast, and by now it has left the descending channel. One can consider buying Euro with the tight stop, the target of the growth is the area of 1.3205. If the price breaks this level, the pair will continue growing up into the area of 1.3315. But is the price falls down lower than 1.3030, this case scenario will be cancelled.
After completing zigzag pattern with a long wave (B) inside it, the price formed an initial descending impulse. It looks like wave (2) has been already finished and right now the market is on the verge to continue falling down inside the third one. In the near term, we can expect the descending trend to start again.
Franc has been consolidating over the last couple of days, the correction is supported by the 6/8 level and the H4 Super Trend’s line. Most likely, one of these days the price will start moving upwards again. The target for the bears is the 8/8 level.
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen are very close to each other below Kumo Cloud and may intersect forming “Golden Cross” (1), both lines are horizontal. Ichimoku Cloud is going down (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is on the chart, the price is below Kumo Cloud. In the near term, we can expect resistance of Senkou Span B and the attempts of the price to stay inside the cloud.
The H4 chart of the EUR/USD currency pair shows a bullish correction on the descending trend. Bearish Tweezers pattern indicates the start of the correction. Window, which is the closest to the price, is a resistance level. Three Line Break and Heiken Ashi candlestick charts confirm an ascending correction.