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USD/CAD: bulls caught the Crab 3/10/2017 On the USD/CAD daily chart, an intermediate 127.2% target in the Crab reversal pattern has been fulfilled. The "bulls" should break the March high and support at 1.3572 to continue their rally. If they fail to do, it will lead to the development of the...

GBP/USD: pound took a rest 3/10/2017 On the GBP/USD daily chart, the target 88.6% in the "Shark" pattern has been realized. If prices reach the convergence zone, there can be a pullback towards 38.2% and 50% levels of the CB wave (1.2355 and 1.243 respectively). A breakout of the support at...

EUR/AUD broke round resistance level 1.4000 3/9/2017 EUR/AUD broke round resistance level 1.4000 Next buy target – 1.4280 EUR/AUD recently broke above the round resistance level 1.4000 (which also earlier reversed the price at the start of this month, as you can see from the daily EUR/AUD chart...

EUR/NZD reached buy target 1.5200 3/9/2017 EUR/NZD reached buy target 1.5200 Next buy target - 1.5450 EUR/NZD continues to rise following the earlier breakout of the key resistance level 1.5200 (top of the previous corrective waves a and (ii)), which was set as the buy target in our previous...

Review on Gareth Burgess's book 3/9/2017 In the past weeks, we were waxing poetic in our book review section and totally forgot about practical trading tips. We hasten to make reparation for our wrongs by presenting you the book covering essential elements of technical analysis – Trading and...

EUR/USD: bulls going to deliver new local high 3/9/2017 We’ve got a wedge in wave . Also, there’s a pullback from 4/8 MM Level, so the price is rising in wave [ii]. In this case, we’re likely going to see another test of 6/8 MM Level, which could be a departure point for another decline...

USD/JPY: "Window" acted as resistance 3/9/2017 The price reached the upper “Window”, so we’ve got a possible “Engulfing” pattern. So, the lower “Window” is likely going to act as a support. If a pullback from this level happens, bulls will probably try to test the last high. There’s a...

EUR/USD: bullish "Engulfing" 3/9/2017 We’ve got a bullish “Engulfing”, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to test the 89 Moving Average in the short term. If a pullback from this line happens, bears will probably try to deliver another decline...

Key option levels for Thursday, March 9th 3/9/2017 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 6 355 ? + 69 253 ? Closest resistance levels 1.0623; 1.0647; 1.0679; 1.0701 Closest support levels 1.0550; 1.0525; 1.0510...

Treacherous bull traps 3/9/2017 A bull trap is a real pain in the neck as it causes substantial financial losses leaving the market participants penniless. The bull traps occur when prices start heading upwards, but then, out of nowhere, reverse and decline. This counter price move produces a...

EUR/NZD and NZD/USD short-term outlook 3/9/2017 Fundamental outlook NZD/USD broke an unquantifiable number of supports on its way and slumped below 0.6900. Kiwi remains under the substantial downward pressure for ten consecutive days on the surging US Treasury bond yields. Disappointing...

GBP/USD: bears can't stop 3/9/2017 The price achieved a support area at 1.2179 – 1.2048. However, the market is likely going to continue falling down towards the next support at 1.2120 – 1.2106. If we see a pullback from this area, bulls will probably try to deliver a correction. We’ve got...

EUR/USD: bears going to test the last low 3/9/2017 The price faced a support at 1.0520, but bears are likely going to test the next support at 1.0493 in the short term. If a pullback from this level happens, there’ll be an opportunity to have a bullish correction towards a resistance at...

Prepping for the ECB meeting 3/9/2017 Today is the day of the ECB meeting. The minimum bid rate will be announced at 2:45 pm MT time, the ECB press conference will start at 3:30 pm MT time. Many analysts expect the ECB to maintain its ultra-loose monetary policy unchanged despite the recent...

Morning brief for March 9 3/9/2017 According to ADP Research institute, there are 298K more people in the US who wake up in the morning, grab their cappuccinos, americanos, some nibbles and delicious snacks to accompany their caffeine fix in the nearby coffeehouses. ADP non-farm employment...

AUD/USD: correction continues 3/9/2017 On the AUD/USD daily chart, a breakout of the support at 0.7512 (38.2% level of the last upward wave) increases the risks of development of the corrective movement towards 0.7445 and 0.7375. For this to happen, the bears need to keep quotes below the...

EUR/USD: the euro will slip off the precipice 3/9/2017 On the EUR/USD daily chart, the bulls for the third time tried to push the quotes above the 1.0635 level (23.6% of the last long-term downward wave), but their attempt has failed. This tells us about the weakness of buyers and increases the...

falling inside minor impulse wave 3 3/8/2017 NZD/CHF falling inside minor impulse wave 3 Next sell target - 0.7010 NZD/CHF continues to fall sharply inside the minor impulse wave 3, which earlier broke through the support zone lying between the support level 0.7170 (which reversed the...

USD/CAD reached buy target 1.3380 3/8/2017 USD/CAD reached buy target 1.3380 Next buy target – 1.3590 USD/CAD continues to rise after the price earlier broke through the resistance level 1.3380, which was set as the buy target in our previous forecast for this currency pair. The...

USD/JPY: consolidation going to move on 3/8/2017 We’ve got a “Hammer” and an “Inverted Hammer”, which both have been confirmed enough. So, the market is likely going to test the nearest resistance, which could be a departure point for another decline in the direction of the 55 & 144 Moving...