Forex Analytics

The EUR/USD pair rebounded from the group of upside fibo-levels and started a new descending correction.

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud and formed “Dead Cross” (1).

The main currency pair is trading neutrally on Friday afternoon; it didn’t react to the statistics very actively.

At the H4 chart of EUR USD, the descending correction continues.

As we can see at the H4 chart, the EUR/USD pair rebounded from the 8/8 level and resumed falling.

The EUR/USD pair has broken the low of its consolidation range and returned to 1.0868.

It seems that in the coming hours we can see another test of the upper Fido-levels.

GBP USD, Time Frame Н4. Tenkan-Sen and Kijun-Sen are still influenced by the "Dead Cross" (1), but the descending Ichimoku cloud closed (2).

The upper window on the H4 chart has acted as a support; the bullish Three Methods continuation pattern points upwards.

After the double zigzag [a] or [w] was over, a descending impulse in the direction of the wave (а) was formed.

The EUR/USD is being traded within a correction move towards 1.0944 level.

In the morning, China published a block of interesting statistics.

Last Friday the market failed to hold above the Murrey level 6/8, and the pair is traded above the Super Trends.

The EUR/USD currency pair has broken the high and this triggered another ascending impulse.

A double zigzag within the wave [a] of [w] continues to form.