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MORNING BRIEF FOR JULY 11 08:37 11.07.2017 The ranges were small today in Asia. Let’s say that it is a period of consolidation for markets ahead of a really busy calendar that sees the opening of the US earning season amid central bankers’ meetings and speaking in the upcoming hours. USD/JPY...

GBP/AUD INSIDE A STRONG SELL ZONE 00:00 11.07.2017 GBP/AUD managed to reach the 200 SMA at H4 chart, but it was sold-off in a supply zone established by our Fibonacci projections. According to the theory, the pair pulled back from the range between the 1.7051 and 1.7155 levels across the board...

GBP/USD: OUTLOOK FOR JULY 10 -14 13:58 10.07.2017 The British pound fell against the dollar in the past week as the UK data indicated that manufacturing, industrial and construction output declined in May. A slightly stronger USD which was brought about by an upbeat NFP release resulted in a...

USD/JPY: THERE ISN'T ANY REVERSAL PATTERN SO FAR 13:56 10.07.2017 The price has been rising since a "High Wave" pattern formed at the last local low. Meanwhile, there isn't any bearish pattern so far, which means the market is likely going to test the upper "Window". If a pullback from this...

EUR/USD: BEARISH "ENGULFING" 13:54 10.07.2017 We've got a bearish "Tower", which has been confirmed enough. Therefore, the market is likely going to reach the nearest support. If a pullback from this level happens, bulls will have a green light to continue pushing price higher until any...

EUR/USD: WAVE GOING TO BE CONTINUED 11:19 10.07.2017 There's another pullback from 3/8 MM Level, so wave is likely going to be continued. Previously, an impulse in wave C of (E) has been formed. So, we should keep an eye on 0/8 MM Level (1.1230) as the next intraday bearish target. As we...

OIL MARKET OVERVIEW 11:10 10.07.2017 Oil prices recovered some losses at the start of the week, rebounding from a 3% fall in the previous session amid a stronger USD and oversupply worries. The number of active US oil rigs increased by 7 bringing the total count to 763 rigs this week...

GBP/USD: "V-BOTTOM" PATTERN 10:48 10.07.2017 Bears faced support at 1.2860, so there's a "V-Bottom" pattern, which pushed the price to resistance at 1.2915. Therefore, the price is likely going to decline in the direction of the 89 Moving Average. However, if a pullback from this line arrives...

EUR/USD: BEARS GOING TO REACH THE CLOSEST SUPPORT 10:45 10.07.2017 The price is consolidating under resistance at 1.1443. Also, we've got two "V-Top" patterns in a row, so the market is likely going to test the nearest support at 1.1365 - 1.1354. If a pullback from this area happens, there'll...

GOLD: BEARS HAVE GREAT PLANS 09:42 10.07.2017 On the daily chart of gold, breaks of the lower border of the upward trading channel and the neckline of the Head and Shoulders pattern may result in a further downfall. The gold continues its downward movement towards $1189 and $1160. A break of...

USD/JPY: BULLS WERE SET FREE 09:40 10.07.2017 On the USD/JPY daily chart, the exit of quotes beyond the limits of the long-term downward channel followed by the successful test of the resistance at 113.3 allowed the Bears to continue the realization of the Butterfly pattern. Its target 127.2%...

MORNING BRIEF FOR JULY 10 08:49 10.07.2017 Leaders from the world's leading economies broke with U.S. President Donald Trump on climate policy at a G20 summit held in Hamburg last week. On trade an investment, there were some usual platitudes about the countries’ commitment to open their...

EUR/USD IS STILL BULLISH, LOOKS FOR A LOWER LEG 02:43 10.07.2017 The EUR/USD pair is following a bullish bias across the markets and it continues to strengthen the current path with a consolidation above the 200 SMA at H4 chart. Around 1.1446 it started to correct the overall bias, but it was...

USD/CAD: OUTLOOK FOR JULY 10-14 16:08 07.07.2017 The commodity-sensitive Loonie has appreciated to its strongest level since September (1.2910) due to surging oil prices and upbeat labor market data released on Friday. Next week, traders will be focused on the Bank of Canada’s monetary policy...

USD/JPY: OUTLOOK FOR JULY 10 -14 16:06 07.07.2017 The yen was one of the biggest losers in the past week mainly due to stronger USD which got traction on the upbeat economic releases out of the US. An additional drag on Japan’s currency came on Friday as the country’s central bank signaled its...

USD/JPY: NEW HIGH COMING SOON 14:23 07.07.2017 There are a "High Wave" and a "Hammer", but we don't have any reversal pattern. So, the pair is likely going to continue rising towards the nearest resistance in the short term. We've got a "Doji" and a "Shooting Star" at the last high, so...

EUR/USD: "HARAMI" PUSHED PRICE HIGHER 14:21 07.07.2017 The last bullish "Harami" pushed the price higher, so we've got a new local maximum. Also, there isn't any reversal pattern so far. Meanwhile, there's an opportunity to have a local bearish correction towards the nearest support...

AUD/USD: AUSSIE BOUNCED FROM SSB 12:12 07.07.2017 Technical levels: support – 0.7570; resistance – 0.7615, 0.7650. Trade recommendations: Buy — 0.7580; SL — 0.7560; TP1 — 0.7650; TP2 — 0.7690. Reason: narrow bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and...

EUR/USD: EURO TESTED NEW HIGHS 12:10 07.07.2017 Technical levels: support – 1.1390; resistance – 1.1430. Trade recommendations: Buy — 1.1390; SL — 1.1370; TP1 — 1.1430; TP2 – 1.1500. Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and...

GBP/USD: CONSOLIDATION NEAR 89 MA 10:17 07.07.2017 There's a "Triple Top", which pushed the price to support at 1.2947. So, the pair is likely going to decline in the direction of the next support at 1.2926 - 1.2887. If a pullback from these levels happens, we could have another upward price...