Forex Analytics

The EUR/USD pair is still consolidating inside the “overbought zone” between the 8/8 and +1/8 levels.

The main currency pair is getting weaker after the June meeting of the European Central Bank.

The EUR/USD pair has formed another consolidation range: one three-wave ascending structure and one three-wave descending structure.

The USD/JPY pair is falling slowly on Thursday as investors are analyzing the Japanese GDP report.

It looks like the EUR/USD pair is still forming the wave [a] or [w].

The EUR/USD pair rebounded again from the group of fibo-levels at 1.1230 – 1.1210, which means that it may resume growing.

The EUR/USD pair rebounded from the 8/8 level, which means that it may resume moving upwards.

At the H4 chart of EUR USD, bearish Tweezers pattern near the upside Window, which provided resistance, indicates a descending correction.

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen are still influenced by “Golden Cross” (1); Kijun-Sen and Senkou Span A are directed upwards.

The EUR/USD pair is falling, which means that it probably completed the wave [a] or [w].

The EUR/USD pair broke the group of fibo-levels at 1.1230 – 1.1210, which means that it may continue the descending correction.

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

GBP USD, Time Frame H4. Indicator signals: Tenkan-Sen and Kijun-Sen ran into one another above Kumo Cloud, they may intersect and form “Dead Cross” (1); both lines are directed downwards.

The EUR/USD pair fixed below the 8/8 level and right now is testing the daily Super Trend.

The GBP/USD pair is under significant pressure on Friday influenced by parliamentary elections in the United Kingdom.