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GBP/USD: BULLS GOING TO TEST NEXT RESISTANCE 06:41 17.05.2017 The pair is consolidating along the 55 Moving Average, so bulls are likely going to achieve the closest resistance at 1.2964 - 1.2995. As a result, the last high is going to be broken, but there's also an opportunity to have a...

AUD/USD: AUSSIE KEEP STAYING IN CLOUD 06:40 17.05.2017 Technical levels: support – 0.7370, 0.7420; resistance – 0.7470. Trade recommendations: Buy — 0.7420; SL — 0.7400; TP1 — 0.7470. Sell — 0.7470; SL — 0.7490; TP1 — 0.7380; TP2 — 0.7340. Reason: narrowing bearish Ichimoku Cloud, rising Senkou...

GBP/USD: POUND LOOKS BETTER 06:38 17.05.2017 Technical levels: support – 1.2900; resistance –1.2950, 1.3070. Trade recommendations: Buy — 1.2920/30; SL — 1.2900; TP1 — 1.3010; TP2 — 1.3070. Reason: narrow bullish Ichimoku Cloud, horizontal Senkou Span A; a new golden cross of Tenkan-sen and...

AUD/USD: WILL BULLS SHOW THEIR WEAKNESS? 06:37 17.05.2017 On the AUD/USD daily chart, there is a continuation of the near-term bearish trend.There are two resistances at 0.7425 and 0.745. If bulls fail to test them, it will be a sign of their weakness, and it will lead to the formation of short...

EUR/USD: "V-TOP" AT THE LOCAL HIGH 06:36 17.05.2017 The price has been rising since a "Triple Bottom" was formed at the last low. However, bulls faced resistance at 1.1122, so there's an opportunity to have a downward correction towards the nearest support at 1.1066. If we see a pullback from...

USD/CAD: LOONIE GOT A FREE RIDE ON WOLF WAVE 06:36 17.05.2017 Recommendations: hold shorts (SELL 1,365 SL 1,3705 TP1 1,3525 TP2 1,337), BUY 1,3435 SL 1,338 TP 1,365. On the USD/CAD daily chart, "Wolf Waves" pattern is in the process of realization. The main scenario is to develop correction...

MORNING BRIEF FOR MAY 17 06:14 17.05.2017 US dollar weakness extended in the course of the Asian session with DXY dropping to 97.93 and giving up all of the gains it made after Trump’s election victory last year. This came after the New York Times spared the details of James Comey’s memo. The...

CANADIAN DOLLAR NEAR-TERM OUTLOOK 12:55 16.05.2017 The Lonnie has strengthened against the USD on Monday as oil prices spiked to their highest level since late April after the large oil producers – Russia and Saudi Arabia – agreed to extend the supply cut deal for another nine months. OPEC-led...

EUR/USD: BULLS GOING TO TEST 7/8 MM LEVEL 11:57 16.05.2017 As we can see on the Daily chart, wave 1 has been ended on 1/8 MM Level. Therefore, if a pullback from 7/8 MM Levels happens, there'll be a sign that wave 2 may have finished. If so, we should keep an eye on 4/8 MM Level as the next...

USD/JPY: LAST HIGH GOING TO BE BROKEN 10:48 16.05.2017 The 21 Moving Average is acting as support, so the price is likely going to test the nearest resistance. If a pullback from this level arrives, there'll be a green light for a local decline. There's a bullish "Harami", which has been...

EUR/USD: "WINDOW" GOING TO ACT AS RESISTANCE 10:46 16.05.2017 We've got a bullish "Three Methods" pattern, so the price is likely going to test the upper "Window". If any bearish pattern arrives afterwards, there'll be an opportunity to have a downward correction. Bulls have broken a...

US DOLLAR OUTLOOK FROM MAJOR BANKS 10:44 16.05.2017 The US dollar was lower against most of its major peers since the very start of the week, pressured by a round of disappointing economic data and by gains made by commodity-sensitive currencies as crude oil futures spiked to its highest level...

Key option levels for Tuesday, May 16th 16/05/2017 If you have any questions or requests fill out the feedback form. GBP/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 32 ↓ + 421 ↑ Closest resistance levels 1.2922...

USD/JPY: YEN TAKES UP THE RUNNING 06:37 16.05.2017 Recommendation: BUY 111,95 SL 111,4 TP 114. On the USD/JPY daily chart, the implementation of the intermediate target in the "Shark" inverted pattern may lead to the pullback towards 23.6%, 38.2% and 50% levels of the CD wave. In this case...

USD/CHF: BULLS NEED TO ARM THEMSELVES WITH PATIENCE 06:36 16.05.2017 Recommendation: BUY 1,0085 SL 1,003 TP 1,02. On the USD/CHF daily chart, the bulls failed to consolidate above the upper border of the downward trading channel. This tells us about their weakness. To restore the long-term...

GBP/USD: BULLS TO DELIVER NEW LOCAL HIGH 06:28 16.05.2017 The price is consolidating along the 55 Moving Average. So, the market is likely going to test the next resistance at 1.2945 - 1.2964. However, if a pullback from these levels happens, we could have a correction, so we should keep an...

EUR/USD: "PENNANT" LED TO BULLISH RALLY 06:26 16.05.2017 Bulls have broken the downtrend, so the price faced resistance at 1.0991. Therefore, the market is likely going to continue moving up towards the next resistance at 1.1025 - 1.1039 in the short term. If a pullback from this area...

MORNING BRIEF FOR MAY 16 06:17 16.05.2017 The euro extended its gains to 1.0995 on Tuesday ahead of the release of the Eurozone GDP data. The softer than expected Empire State Manufacturing Index weighed on the greenback and offered the euro a solid support. With concerns about political risks...

EUR/USD: 6/8 MM LEVEL AS IMPORTANT RESISTANCE 12:16 15.05.2017 6/8 MM Level is likely going to act as resistance once again. If we see another pullback from this line, wave (i) is going to be continued towards 4/8 MM Level. The critical level for this wave count is the high of wave (c) of [y]...

USD/JPY: "WINDOW" ACTING AS SUPPORT 12:05 15.05.2017 The 21 Moving Average has acted as support, so there's a "Belt Hold" pattern on this line. In this case, the price is likely going to test the next resistance by the last "Three Methods" pattern. If a pullback from this level happens...