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EUR/USD: 8/8 MM LEVEL COULD SEND PRICE LOWER 11:38 22.05.2017 The price reached 8/8 MM Level, so wave (c) of [y] may have been ended, which means there's an opportunity to have bearish wave (i). In this case, we should keep in mind 6/8 MM Level as the next intraday target. As you can see...

OIL MARKET OVERVIEW 08:42 22.05.2017 WTI and Brent futures climbed to their highest monthly levels as Saudi Arabia and non-OPEC member Russia rally support for a nine-month extension to the production cut deal signed by the majority of petroleum exporting nations. Signs that US supplies have...

GBP/USD: DEVELOPING CONSOLIDATION 07:41 22.05.2017 We've got an upward consolidation, which is developing between the 34 Moving Average and resistance at 1.3023. It's likely that the pair is going to move up towards the closest resistance at 1.3090 - 1.3120. If we see a pullback from this...

EUR/USD: BULLS GOING TO TEST NEXT RESISTANCE 07:38 22.05.2017 Bulls faced resistance at 1.1204, so the market is consolidating. However, the price is likely going to move on towards the next resistance at 1.1232 - 1.1249. If a pullback from this area happens, there'll be an opportunity to...

EUR/JPY: BULLS HAVE SITUATION UNDER CONTROL 06:31 22.05.2017 Recommendations: BUY 124,9 SL 124,35 TP1 126,2 TP2 128. On the EUR/JPY daily chart, there is a continuation of the upward movement within the framework of the boundaries of the Deep Shark pattern. Its target is located at 161.8% of...

USD/JPY: BULLS-BEARS 5:0 06:29 22.05.2017 Recommendation: BUY 111,7 SL 111,15 TP 112,85. On the USD/JPY daily chart, the "Shark" pattern transformed into 5-0. The rebound from 61.8% and 50% levels of the last corrective wave can be used for opening long positions. There will be a restoration...

MORNING BRIEF FOR MAY 22 06:02 22.05.2017 GBP/USD was trading choppily in the Asian session. First, the pound gapped lower towards 1.2970, then bounced to 1.2995 covering much of its previous losses. GBP selling stemmed from option-related interest combined with Britain’s threats to quit...

AUD/USD: BULLS CANT BREAKING OUT SSB’S RESISTANCE 05:17 22.05.2017 Technical levels: support – 0.7370, 0.7400/10; resistance – 0.7450. Trade recommendations: Sell — 0.7400; SL — 0.7420; TP1 — 0.7340; TP2 — 0.7310. Reason: narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new...

EUR/USD: BULLS TESTED DAILY RESISTANCE 05:14 22.05.2017 Technical levels: support – 1.1120; resistance – 1.1230. Trade recommendations: Sell — 1.1230; SL — 1.1250; TP1 — 1.1120; TP2 – 1.1080. Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen...

USD/JPY: OUTLOOK FOR MAY 23 - 26 09:27 19.05.2017 USD/JPY fell to 110.20 in the course of the past week. The pair was hit by continuing troubles of Trump administration. Nervous investors switched to the safe-haven yen after media reported that Trump obstructed justice by pressuring former FBI...

USD/CAD: OUTLOOK FOR MAY 22-26 16:24 19.05.2017 USD/CAD slumped to 1.3545 in the past week due to rising oil prices and weaker USD. WTI and Brent oil futures rose after the Saudi Arabia and Russia have committed to extend production cut agreement. The political turmoil in Washington that could...

GBP/USD: OUTLOOK FOR MAY 23 - 26 09:25 19.05.2017 The political turmoil that gripped the White House this week resulted in the weakening of the USD against its major counterparts, such as the British pound. US President Donald Trump was accused of pressuring ex-FBI director James Comey to drop...

CAD/JPY REVERSED FROM SUPPORT ZONE 14:27 19.05.2017 CAD/JPY reversed from support zone Next buy target - 83.70 CAD/JPY recently revered up with the daily Japanese candlestick reversal pattern Hammer from the support zone lying between the pivotal support level 80.60 and the lower daily...

EUR/USD RISING INSIDE IMPULSE WAVES (III) AND C 14:25 19.05.2017 EUR/USD rising inside impulse waves (iii) and C Next buy target - 1.1260 EUR/USD continues to rise inside the minor impulse (iii), which earlier reversed up from the support zone lying between the support level 1.1100 and the...

USD/JPY: "INVERTED HAMMER" AT THE LAST LOW 12:53 19.05.2017 There's a "Tweezers" pattern at the local high, but the last bullish "Hammer" is still on the table. Therefore, the market is likely going to rise towards the Moving Averages in the coming hours We've got an "Inverted Hammer" at...

EUR/USD: BULLISH PARTY 12:51 19.05.2017 The lower "Window" has acted as support, which led to a new local high. Considering the last "Hammer", bulls are likely going to test the nearest resistance level, which could be a departure point for a downward correction. We've got some bullish...

EUR/USD: 8/8 MM LEVEL GOING TO ACT AS RESISTANCE 12:10 19.05.2017 The price is still rising, so bulls are likely going to test 8/8 MM Level in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a bearish wave (i). In this case, we should keep an eye on...

US DOLLAR: OUTLOOK FOR MAY 22-26 11:09 19.05.2017 US dollar had the worst week in 9 months. The greenback was hit hard by the political turmoil in the United States. The hype was caused by Donald Trump's firing of former FBI director James Comey, talk that he pressed Comey to stop investigating...

GBP/USD: BULLS GOING TO TEST NEXT RESISTANCE 06:46 19.05.2017 The 55 Moving Average has acted as support, so there's a "V-Bottom" pattern, which pushed the price a little bit higher. Under this circumstances, we should keep an eye on resistance at 1.3023 - 1.3057 as the next bullish target...

EUR/USD: "V-BOTTOM" PUSHING PRICE HIGHER 06:44 19.05.2017 The price faced support at 1.1066, so we've got a "V-Bottom" pattern. In this case, the market is likely going to continue moving up towards the next resistance at 1.1152 - 1.1171. However, if a pullback from this area happens...