Indices Try to Correct Lower and EUR/USD to the Upside

SP500 reaches an important resistance and creates a head and shoulders pattern on the lower timeframes. The neckline isn’t broken yet, so buyers can still chill.

DAX is correcting a recent surge inside of a flag formation.

Silver is raising pressure on a long-term horizontal support.

EURJPY with a false bearish breakout is ready for a new bullish wave.

CHFJPY is locked inside of the rectangle between two Fibonacci’s: 23,6% and 38,2%.

EURUSD is trying to initiate the reversal with an inverse head and shoulders pattern but is still trading below the neckline.

GBPUSD is still under heavy selling pressure but may use the 38,2% Fibo in order to create some kind of a bounce in those oversold conditions.

For a look at all of today’s economic events, check out our economic calendar.