EUR/JPY – Corrective structure persists + pre-breakout structure (4hr chart)
The corrective structure mentioned in the commentary a few days ago continued throughout the week. The bulls never managed to push up and re-test the top of the structure. Instead every attempt to rally was countered by the bears earlier and earlier each time indicated by lower highs.
The structure shows a pre-breakout structure, further reinforcing our idea that a bearish continuation following this correction is likely.
The focus now turns towards 120.00 as the next target for the bears.
Only a daily close above 125.50 would change our MT bias which is bearish for now.
XAUEUR – Bearish Pullback Attempting to Base, ST Support Below (daily chart)
Gold has …