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Morning brief for March 23 3/23/2017 Today the US Congress will be voting on a key healthcare reform bill which is seen by my market experts as a litmus test for the relationship between the White House and Congress. If the bill doesn’t pass, it could delay or reduce the scope for other...

AUD/USD: Aussie escaped the Shark 3/23/2017 On the AUD/USD daily chart, bears for the second time try to push the quotes out of the descending trading channel. If they succeed the target 113% in the "Shark" inverted pattern will unlikely be implemented. Aussie might develop the correction...

GBP/USD: bulls must show their strength 3/23/2017 On the GBP/USD daily chart, prices are trying to consolidate above the important level of 1.2485. If they succeed, the risks of the continuation of the rally towards 1.26 and 1.265 levels will increase. In contrast, a rollback followed by the...

EUR/USD: wave 2 is going to end 3/23/2017 Wave 2 is taking form of a double zigzag. The main intraday target for wave [y] is +2/8 MM Level. If a pullback from this level happens, there’ll be an opportunity to have a downward impulse wave. There’s a developing bullish impulse in wave (c) of...

AUD/JPY falling inside C-wave 3/22/2017 AUD/JPY broke support zone Next sell target - 84.00 AUD/JPY continues to fall after the recent breakout of the support zone lying between the support level 86.00 (which reversed the previous waves A and (b), as can be seen below) and the 50% Fibonacci...

CAD/JPY broke support zone 3/22/2017 CAD/JPY broke support zone Next sell target - 82.00 CAD/JPY continues to fall sharply after the earlier breakout of the support zone lying between the support levels 85.00, 84.00, 100-day simple moving average, support trendline of the daily down channel...

EUR/USD near-term forecasts from banks 3/22/2017 Credit Agricole Bank’s analysts believe that any further strength in the EUR/USD exchange rate should take it into selling territory. A key resistance line, that has been touched several times since Donald Trump’s inauguration, lies at 1.0800...

USD/JPY: bears can't stop 3/22/2017 The last candles are bearish, which means there isn’t any reversal pattern so far. Therefore, the price is likely going to continue falling down towards the nearest support level. We’ve got a “Three Methods” pattern, which pushed the price lower...

EUR/USD: bears going test "Window" 3/22/2017 We’ve got a bearish “Hanging Man”, but a confirmation of this pattern is a quite weak. Therefore, the market is likely going to test the nearest support area. If a pullback from this level happens, there’ll be an opportunity to have a new local...

Gold market overview 3/22/2017 Gold prices hit their March high at $1247 in the European session posting gains for six consecutive days. A further upsurge is not ruled out. To determine whether there will be a retracement, we suggest you looking at gold fundamentals and XAU/USD technical chart...

GBP/USD: resistance waiting for bulls 3/22/2017 The price has been consolidating since the downtrend was broken. Nevertheless, the pair is likely going to reach the next resistance at 1.2506 – 1.2522 during the day. If we see a pullback from this area, there’ll be a chance to have a decline...

EUR/USD: bullish "Flag" led to new high 3/22/2017 The price is consolidating under a resistance at 1.0811. At the same time, the market is likely going to test the next resistance at 1.0828 – 1.0850. If a pullback from this area happens, there’ll be an opportunity to have a decline towards a...

Key option levels for Wednesday, March 22nd EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 50 007 ? + 89 134 ? Closest resistance levels 1.0847; 1.0869; 1.0889; 1.0923 Closest support levels 1.0810; 1.0780; 1.0731...

Morning brief for March 22 3/22/2017 Market participants diminished their appetites for the USD and switched to high yielding currencies. The yen was an absolute gainer in the Asian session. USD/JPY slumped to 111.65. Earlier this morning we’ve got BoJ’s January meeting minutes. Most of the...

AUD/USD: aussie going down to Cloud 3/22/2017 Technical levels: support – 0.7640, 0.7620; resistance – 0.7700, 0.7730. Trade recommendations: 1. Buy — 0.7640; SL — 0.7620; TP1 — 0.7700; TP2 — 0.7730. Reason: bullish Ichimoku Cloud; a cancelled golden cross of rising Tenkan-sen and Kijun-sen...

GBP/USD: pound is made new highs 3/22/2017 Technical levels: support – 1.2420; resistance – 1.2525. Trade recommendations: 1. Buy — 1.2420; SL — 1.2400; TP1 — 1.2520; TP2 — 1.2560. Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but...

USD/JPY: yen strives to strengthen more 3/22/2017 On the USD/JPY daily chart, the prices returned to the limits of the previous trading channel. This is a signal of the restoration of the downtrend. An update of February lows will activate the AB = CD pattern. Its 200% target is located near...

USD/CHF: bears took the situation under control 3/22/2017 On the USD/CHF daily chart, a breakout of the lower border of the upward trading channel was a signal for the restoration of the downtrend. If sellers manage to send quotes below the support at 0.985, the prices might move lower towards...

EUR/USD: euro still under resistance 3/21/2017 Technical levels: support – 1.0740, 1.0700; resistance – 1.0800/20. Trade recommendations: 1. Sell — 1.0800; SL — 1.0820; TP1 — 1.0740; TP2 – 1.0700. Reason: bullish Ichimoku Cloud, but the lines Senkou Span A and B are horizontal; a golden...

EUR/USD: bulls took a break 3/21/2017 On the EUR/USD daily chart, there is a consolidation in the range of 1.0705-1.0785. A breakout of its upper border will increase the risks of continuation of the rally towards 1.086, and then, towards 1.104 (target 161,8% in the AB = CD pattern ). In...