With the bulls taking a break and a pennant forming is this another similar pattern to last night CHFJPY next stop for this would then be 117.30 Fib 200%
Entry above Fib 161.8%
SL below recent 4H candle
Pennant forming on 1H , is this a break on a distinct upward channel? In addition it is right under the Fib 100% so if it presses on up it could fly. Concern around the high as is as it is a historic one!
Based on Ichimoku analysis Kichon Suchi the following are of note:
An upturn soon to complete N wave which will bounce of the resistance under Kumo
Then based on price target analysis current high to current low then duplicated down and Kichon Suchi time taken that we know to projected gives us a nice ...
The current run of the EURUSD is strongly bullish in a pretty fixed channel just waiting to explode. Due to the current trend the short term outlook is bearish with possible support around 1.2744 (Fib 50%) or further through to just around Fib 38 which coincides with the psychologically important 1.2700 round ...