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GBP/USD: outlook for March 6-10 3/3/2017 Results of the past week: Sterling has been on a roller coaster in the past week as prices broke down to 1.2230 on the broad strengthening of the USD and investors’ jitters over the looming Brexit. Economic data was a mixed bag with a miss on the UK...

AUD/USD: outlook for March 6-10 3/3/2017 Results of the past week: AUD/USD stumbled to 0.7542 in the past week amid rising probabilities for an imminent Fed rate-hike and falling commodity prices. On Friday, Aussie edged up to 0.7560 thanks to the retracement of the US bond yields and a modest...

GBP/USD: "Thorn" pushes the market into correction 3/3/2017 Bears faced a support at 1.2260, so the price is consolidating. Also, there’s a “Thorn” pattern. In this case, the pair is likely going to test a resistance at 1.2277 – 1.2315, which could be a departure point for a decline towards a...

EUR/USD: another "V-Bottom" 3/3/2017 The price faced a support at 1.0493, so we’ve got a “V-Bottom” pattern. Therefore, the market is likely going to test the nearest resistance at 1.0552 – 1.0578 in the short term. If a pullback from this area happens, there’ll be an opportunity to have a...

Morning brief for March 3 3/3/2017 The US dollar mushroomed up overnight as pricing expectation for a Mach hike have increased substantially. A chorus line of Fed’s senior officials singing throughout this week pushed the implied probability of the rate move this month to 74% from last week...

GBP/USD: pound going lower 3/3/2017 Technical levels: support – 1.2225; resistance – 1.2280, 1.2350. Trade recommendations: 1. Sell — 1.2280; SL — 1.2300; TP1 — 1.2225; TP2 — 1.2100. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen...

EUR/USD: euro on the weekly support 3/3/2017 Technical levels: support – 1.0500; resistance – 1.0540. Trade recommendations: 1. Sell — 1.0530; SL — 1.0550; TP1 — 1.0450; TP2 – 1.0410. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A and B; a new dead cross of Tenkan-sen and...

USD/CAD: loonie was struck by the Wolfe wave 3/3/2017 On the USD/CAD daily chart, Wolfe waves signals worked well and brought profits on the previously formed longs. "Bulls" push quotes towards resistance at 1.357 (50% of the last long-term downward wave), and the upper boundary of the rising...

EUR/USD: bulls beg for mercy 3/3/2017 On the EUR/USD daily chart, "bears" for the second time in the last two weeks faced with the important psychological level of 1.05. If it is tested, the target 88.6% in the AB = CD pattern will be implemented. The trend is still downward, so it makes sense...

Brexit: full-scale attack on Theresa May 3/2/2017 It is a really tough period of time for the UK PM Therese May working to the point of exhaustion to meet her Brexit deadlines. She has to ward off numerous attacks from different fronts and not to bend under her counterparts’ verbal strain. The...

USD looks bullish... for now 3/2/2017 The market seems bullish on the US dollar as the expectations of the Fed’s rate hike increase. According to the CME Group FedWatch tool, the odds of the US rate hike on March 17 equal to 66.4%. According to other counts, the possibility is as high as 80%...

Key option levels for Thursday, March 2nd 3/2/2017 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 1 175 ? + 547 ? Closest resistance levels 1.2296; 1.2330; 1.2362; 1.2404 Closest support levels 1.2280; 1.2254...

GBP/USD: "Double Top" led to bearish rally 3/2/2017 The price faced a support at 1.2260. However, bears are likely going to continue pushing the market lower, so we should keep an eye on a support at 1.2231 – 1.2198 as a possible intraday target. There’s a consolidation, which is taking...

EUR/USD: support waiting for bears 3/2/2017 The last “Triple Top” pattern led to decline, so the price faced a support at 1.0520. Nevertheless, the market is likely continue falling down towards the next support at 1.0493. If any bullish pattern arrives later on, there’ll be an opportunity to...

Morning brief for March 2 3/2/2017 Another Fed officials repeated the proverbial mantras about their readiness to raise rates. This time there were New York Fed president Bill Dudley and FOMC member Lael Brainard speaking from the rostrum. Usually, Brainard tends to be more dovish on the rate...

USD/JPY: on the way to 3-W highs 3/2/2017 Technical levels: support – 113.190; resistance – 114.50. Trade recommendations: 1. Buy — 113.90; SL — 113.70; TP1 — 114.50; TP2 — 115.00. Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and...

AUD/USD: aussie going to SSB 3/2/2017 Technical levels: support – 0.7640, 0.7600; resistance – 0.7700/20. Trade recommendations: 1. Buy — 0.7640; SL — 0.7620; TP1 — 0.7700; TP2 — 0.7720. Reason: narrow bullish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen, but the lines are...

USD/JPY: yen looses its strength 3/2/2017 On the USD/JPY daily chart, bulls managed to push quotes beyond the descending trading channel. As a result, the chances of the uptrend recovery and implementation of the 88.6% target in the "Shark" inverted pattern have increased. But, first, buyers...

AUD/USD: bulls gave a head start 3/2/2017 On the AUD/USD daily chart, bulls have decided to postpone the campaign towards the target 113% in the "Shark inverted pattern. To come up with this idea again they need to push the prices above 0.7703. At the present moment, the most likely scenario is...

USD/CAD rising inside intermediate impulse wave (3) 3/1/2017 USD/CAD rising inside intermediate impulse wave (3) Next buy target - 1.3380 USD/CAD continues to rise inside the active intermediate impulse wave (3), which started earlier from the key support level 1.3020 (which also...