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USD/CAD: LOONIES NEEDS A REST 09:41 04.07.2017 On the USD/CAD daily chart, the final target in the Wolfe Waves pattern has been fulfilled and the 23.6% level of the 2016 downward near-term wave has been reached. As a result, the risks for the correction from the current levels, or from the 113%...

MORNING BRIEF FOR JULY 4 08:38 04.07.2017 The Aussie was hurt badly after the Reserve Bank of Australia held its interest rates unchanged at their record low. Governor Lowe’s statement was not as upbeat as many expected. He put a special emphasis on the subdued wage growth. Australia’s economic...

USD/JPY: 21 MOVING AVERAGE ACTED AS SUPPORT 14:58 03.07.2017 The 21 Moving Average has acted as support, so we've got a new local high. Also, bulls have broken the "Window" and we don't have any bearish pattern. So, the market is likely going to continue rising until any reversal pattern...

EUR/USD: TWO "TWEEZERS" PATTERNS IN A ROW 14:55 03.07.2017 We've got bearish patterns such a "Tweezers" and an "Engulfing", which both have been confirmed enough. Also, there's a bearish "Three Methods", so the market is likely going to test the lower "Window" in the short term. There're...

EUR/USD: DEVELOPING IMPULSE IN WAVE (I) 14:35 03.07.2017 Wave [v] of C may have been ended, so there's a developing impulse in wave . The main intraday target is 4/8 MM Level, which could be a departure point for an upward correction. We've got a developing impulse in wave (i), which is...

USD/CAD DAILY OUTLOOK 14:18 03.07.2017 The sentiment surrounding the Loonie has turned bullish last week due to the recent hawkish BoC’s rhetoric. The Bank of Canada Governor Stephen Poloz and his deputy Carolyn Wilkins made it clear – a rate hike is imminent, if not in the July 12 meeting...

DO NOT BELITTLE G-20 SUMMIT 13:02 03.07.2017 Some traders simply disregard the importance of such political assemblies as G-20 summits viewing them irrelevant for interpretation of market’s moves. In some degree, they are right, markets are not really responsive to the G-20/G-7-like meetings...

OIL MARKET OVERVIEW 10:54 03.07.2017 Oil futures advanced for an eighth consecutive session on Monday. It is the longest winning streak of the year. WTI crude was trading up 0.3% at $46.22 per barrel on the NYMEX. Brent futures were 0.3% higher at $49.05 per barrel in London. Major...

GBP/USD: "DOUBLE TOP" STOPPED BULLS 10:29 03.07.2017 The price is consolidating between the levels 1.3046 - 1.2976. Also, we've got two "V-Top" patterns in a row, so the pair is likely going to test the closest support at 1.2976 - 1.2947. If a pullback from this area happens afterwards, bulls...

EUR/USD: CONSOLIDATION ABOVE THE 34 MA 10:11 03.07.2017 Bulls faced resistance at 1.1464, so we've got a "V-Top" pattern, which pushed the price to support at 1.1398. In this case, the market is likely going to test the next support at 1.1365. If a pullback from this level happens, there'll...

USD/JPY: DOLLAR SUPPORTED BY KIJUN-SEN 09:36 03.07.2017 Technical levels: support – 112.30; resistance – 113.20, 113.60. Trade recommendations: Buy — 112.50; SL — 112.30; TP1 — 113.20; TP2 — 113.60. Reason: bullish Ichimoku Cloud and rising Senkou Span A; a golden cross of Tenkan-sen and...

AUD/USD: AUSSIE ENTERED TO TENKAN-KIJUN CHANNEL 09:35 03.07.2017 Technical levels: support – 0.7640; resistance – 0.7690. Trade recommendations: Buy — 0.7640; SL — 0.7620; TP1 — 0.7690; TP2 — 0.7730. Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of...

USD / JPY: BULLS SAW A BAT 09:19 03.07.2017 On the USD/JPY daily chart, Bulls settled in above the important level at 112.07. They are going to attack the diagonal resistance in the form of the upper border of the downward long-term channel. Its successful test will increase the risks for the...

GOLD ATTACKS THE NECKLINE 09:16 03.07.2017 On the daily chart of gold, quotes came closer to the necklines of the Head and Shoulders pattern. A successful test of this line will open the way towards $1183 – 1188. In contrast, a rollback would lead to the consolidation in the range of $1230 –...

MORNING BRIEF FOR JULY 7 08:47 03.07.2017 The yen was in today’s spotlight due to the Tokyo election on Sunday resulting in a big loss for the incumbent prime minister Abe and due to the swath of data out of Japan. Exit polls indicated the Liberal Democratic Party will likely win the fewest...

BITCOIN COULD START TO RESUME BULLISH BIAS, LOOKS FOR THE $3165 LEVEL 03:17 03.07.2017 Bitcoin, quoted in USD, is already trapped in an interesting area where buyers could help to boost the cryptocurrency towards record highs in the mid-term. During last weeks, headlines that called for a...

EUR/USD: PRICE STILL RISING IN WAVE [V] OF C 15:48 29.06.2017 The price is still rising in wave [v] of C. The main intraday target is 8/8 MM Level. If we have a pullback from this level, there'll be an opportunity to have a downward price movement. As we can see on the one-hour chart, the...

OIL MARKET OVERVIEW 15:24 29.06.2017 Oil prices extended gains for a six-straight day after falling near 20% since mid-May when OPEC and non-OPEC producers extended their output reduction deal until March 2018, but with lesser than expected cuts. Brent oil futures spiked to $48.10 after the US...

USD/JPY: PRICE REACHED UPPER "WINDOW" 15:22 29.06.2017 The price has reached the upper "Window". If any bearish pattern forms, the pair is likely going to test the 21 Moving Average, which could be a departure point for another bullish rally. There isn't any bearish pattern so far, cause...

EUR/USD: "EVENING DOJI STAR" ARRIVED 15:19 29.06.2017 There's a possible "Engulfing" at the last high. If this pattern confirms, bears are likely going to deliver a local downward correction towards the nearest support area. However, if a pullback from this support happens, there'll be an...