As we mentioned yesterday:
The pair has been moving within a symmetrical triangle since the beginning of the week, and we indicated two possibilities: a break of the upper line = a rise towards 1.3560 and then 1.3590 - a break of the lower line = a decline towards 1.3470 and then 1.3415.
What actually happened:
The price succeeded in breaking the upper line of the triangle - the first target of 1.3560 has been reached - the price is currently moving in a narrow range above this level, attempting to stabilize.
Current status:
MACD: Still weak below zero, but has begun to turn horizontal with a possible positive crossover - the price is showing a slowdown in upward momentum, but has not yet reversed.
Expectation:
As long as the price remains above 1.3520, the possibility of a rise towards 1.3590 remains possible.
A break of 1.3520 would return the price to test 1.3470, weakening the positive momentum.
EUR/USD Chart on the hourtly time frame
As we mentioned yesterday:
The pair has been moving within an extended ascending channel since May 28, and we indicated two possibilities:
• Either an upward rebound from the lower boundary of the channel, targeting 1.1410 and then 1.1445.
• Or a downward breakout from the channel, targeting the 1.1310 and then 1.1275 areas.
What actually happened:
• The price rebounded from the lower boundary of the channel, as we expected.
• The first target at 1.1410 was accurately reached.
• The pair is currently attempting to consolidate above this level, which supports the scenario of a continued rise towards 1.1445.
Current situation:
• The MACD indicator remains negative but shows signs of a bullish crossover.
• The bearish momentum has begun to decline, suggesting a continued move within the channel.
Forecast:
• As long as the pair maintains support at 1.1370, a bullish scenario toward 1.1445 remains possible.
• A break of 1.1370 to the downside would weaken this scenario and open the door for a retest of 1.1310.
USD/JPY chart on the hourly time frame
As we mentioned yesterday:
The pair was within a symmetrical triangle, and we explained the following: Breaking 144.40 = a rise to 145.60 and then 146.20 - Breaking 143.00 = a fall to 142.00 and then 141.50
What actually happened:
The 144.40 level was broken - The price rose rapidly and achieved the first target at 145.60 - It is currently stabilizing near this level in a sideways fluctuation.
Current Status:
MACD: Significant improvement in positive momentum, support for a triangle breakout - the price faces technical resistance at 146.00.
Expectation:
As long as the price remains above 144.80, the uptrend will continue toward 146.20.
A break of 144.80 to the downside = a possible correction toward 143.90.
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