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5 NEAR-TERM RISKS TO OIL PRICES 10:43 27.04.2017 US crude oil inventories have finally started to decline. The Energy Information Administration reported Wednesday that domestic-crude supplies fell 3.6 million barrels for the week ended April 21—the largest drop so far this year. The oil...

EUR/JPY: BULLS WON THE BATTLE 06:59 27.04.2017 Recommendations: BUY 119,25 SL 118,70 TP 121, BUY 122 SL 121,45 TP 124. On the EUR/JPYdaily chart, after reaching 161.8% target in AB = CD pattern and breaking the upper border of the downward channel, "bulls" managed to restore uptrend. it is...

GBP/USD: WILL THE POUND LEAVE THE LEDGE? 06:57 27.04.2017 On the GBP/USD daily chart, "bulls" are trying to implement the "Splash and ledge" pattern. If they succeed, the risks of continuation of the rally towards 161.8% target in the AB = CD pattern will increase. In contrast, a move of quotes...

EUR/USD: "DOUBLE TOP" STOPPED BULLS 06:52 27.04.2017 Bulls faced a resistance at 1.0951, so we’ve got a “Double Top”, which pushed the price to the previously broken “Wedge” pattern. Therefore, the market is likely going to decline towards a support 1.0819 – 1.0729. If a pullback from this...

MORNING BRIEF FOR APRIL 27 06:33 27.04.2017 The much-awaited Trump’s tax plan was meager on detail and long on giveaways to the biggest corporations and billionaires. US President proposed slashing taxes for businesses to 15% from the current 35% for public corporations and 39.6% for small...

AUD/USD: BEARS MADE NEW LOCAL LOWS 05:29 27.04.2017 Technical levels: support – 0.7450, 0.7425; resistance – 0.7500. Trade recommendations: 1. Sell — 0.7500; SL — 0.7520; TP1 — 0.7450; TP2 — 0.7425. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen...

EUR/USD: ON SUPPORT OF TENKAN 05:28 27.04.2017 Technical levels: support – 1.0900; resistance – 1.0930. Trade recommendations: 1. Sell — 1.0890; SL — 1.0910; TP1 — 1.0820; TP1 — 1.0800. 2. Buy — 1.0800; SL — 1.0780; TP1 — 1.0900; TP2 – 1.0930. Reason: expanding bullish Ichimoku Cloud, but...

EUR/USD: WAVE (III) ENDED 16:24 26.04.2017 There’s a pullback from 7/8 MM Level, so wave (iii) has been ended. Therefore, bears are likely going to deliver wave (iv). In this case, we should keep an eye on 4/8 MM Level as an intraday target...

AUD/CHF BROKE STRONG SUPPORT ZONE 14:52 26.04.2017 AUD/CHF broke strong support zone Next sell target - 0.7370 AUD/CHF continues to fall after the earlier sharp breakout of the strong support zone lying between the pivotal support level 0.7480 (which also reversed the previous waves 4 and (A)...

EUR/AUD BROKE RESISTANCE ZONE 14:51 26.04.2017 EUR/AUD broke resistance zone Next buy target - 1.4700 EUR/AUD continues to rise after the earlier breakout of the resistance zone lying between the resistance levels 1.4300 (top of the previous waves 2 and (A), intersecting with the 61.8%...

USD/TRY: SHORT-TERM AND NEAR-TERM OUTLOOK 13:04 26.04.2017 The lira strengthened significantly following President Erdogan referendum victory held on April 16. Yet it was hardly the win the president had expected. The yes camp limped away with just 51.4% of the vote. The opposition and outside...

USD/JPY: "WINDOW" ACTED AS SUPPORT 12:54 26.04.2017 We still don’t have any confirmed reversal pattern. Also, there’s a possible bullish “Three Methods”. So, the pair is likely going to test the upper “Window” in the coming days. There’s an “Engulfing” pattern on the lower “Window”, which...

EUR/USD: "TWEEZERS" LED TO CORRECTION 12:50 26.04.2017 We’ve got a bearish “Tweezers”, which has been confirmed enough. Therefore, bears are likely going to test nearest “Window”. If a pullback from this level happens, there’ll be an opportunity to have another bullish price movement...

USD/JPY: BANK OF JAPAN’S MEETING PREVIEW 11:16 26.04.2017 The Bank of Japan meets on Thursday to announce its monetary policy statement and to deliver its latest updated Outlook Report. Here is a banks’ preview Barclays Barclays expects the BoJ to keep the settings on its monetary easing...

TIMING OF THE NEXT FED RATE HIKE 09:33 26.04.2017 Investors are always concerned with the question of when the Fed will raise interest rates. The timing of the next hike is a balancing act between the need for preemptive policy to stave off heightening inflation rates against the need to let...

GBP/USD: RESISTANCE WAITING FOR BULLS 07:17 26.04.2017 The last “Pennant” was broken, but bulls haven’t moved higher yet. So, the price is consolidating under a resistance at 1.2865. Nevertheless, the market is likely going to achieve the next resistance at 1.2911 – 1.2945. If a pullback from...

EUR/USD: BROKEN "PENNANT" 07:10 26.04.2017 Bulls have broken the “Wedge’s” upper side, but the price faced a resistance at 1.0951 afterwards. However, the market is likely going to test the next resistance at 1.0991. If a pullback from this level happens, there’ll be an opportunity to have a...

BULLS REGAINED THEIR STRENGTH 06:50 26.04.2017 On the daily chart of gold after reaching the 127.2% target in the "Perfect Butterfly" pattern there was a rebound from the lower boundary of the downward trading channel followed by the development of an upward short-term trend. If the bulls...

USD/CAD: LOONIE IS ROLLING INTO THE ABYSS 06:49 26.04.2017 On the USD/CAD daily, taking advantage of the weakness of the bears, the bulls broke the upper border of the downward trading channel and restored the uptrend. If they manage to keep quotes above 1.357, they might extend the rally...

MORNING BRIEF FOR APRIL 26 06:23 26.04.2017 Growing appetite for risk meant safe-haven assets fell out of favor. Global equities rallied to an all-time high this month as European political risk abated ("dog days are over" for Europe? as Florence Welch from Florence and the machine would say)...