Euro & Cable

Couple of patterns playing out in both Cable and EurUsd.

EurUsd - 4 Hourly Chart
AB = CD pattern. After a 50% fib retrace of the AB leg to 1.3290. CD leg targets the 200.0 Fib extension in the 1.2900/1.2910 area. Only close above the 200 Ema would invalidate. Still unfolding with support at 1.3026 now broken.

EurUsd - Hourly Chart

Similarly to the 4 Hourly chart, the Hourly chart also has an AB = CD pattern with similar fib ratios of 50.0//200.0. Currently we have support at 1.3020/30. Below there the target is a little above the 200 extension at 1.2978. Only a close back above the 34 ema would invalidate the pattern. Sell off continues with trend support now broken. 34 Ema remains resistence.

Cable - 4 Hourly Chart
Whilst not an ideal pattern price failed to gain traction above the 400 Ema and has resumed what appears to be a CD extension. Ideally the target zone will be in the 200.0//224.0 Fib extension zone at 1.5525/1.5559 zone. Only a close back above the 400 Ema would invalidate. Overnight price indeed tested the 400 Ema without sucess. Still favour a further move toward target.

Cable - Hourly Chart

AB = CD and 61.8//161.8 targets 1.5512. Only a close above the 156 ema invalidates. As in the 4 Hourly chart, cable overnight saw a test of the 156 Ema but failed to close above it. Immediately, we have a support line at 1.5652 and nearby resistence at the 89 Ema. We need a clean break of support to see a continuation of the pattern. A close above the 156 Ema invalidates the pattern and would target 1.5754.