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AUD/CAD reversed from resistance zone 2/17/2017 AUD/CAD reversed from resistance zone Next sell target - 1.0000 AUD/CAD recently reversed down from the strong resistance zone located between the key resistance level 1.0080 (which reversed earlier waves (B), (1) and 1), upper daily Bollinger...

EUR/AUD reversed from long-term support level 1.3730 2/17/2017 EUR/AUD reversed from long-term support level 1.3730 Next buy target – 1.4000 EUR/AUD recently reversed up sharply from the powerful long-term support level 1.3730 (which also previously reversed the price multiple times at the...

EUR/USD: zigzag in wave [ii] 2/17/2017 There’s a bearish impulse in wave . Previously, wave 2 has been formed like a zigzag. So, we could have wave [ii] soon. The main intraday target is 8/8 MM Level. We’ve got a possible bullish impulse in wave (a), so the price is declining in wave (b)...

USD/JPY: bulls going to deliver a correction 2/17/2017 The last “Tweezers” and “Engulfing” pushed the market lower. So, the price is likely going to continue falling down towards the nearest “Window”, which could be a departure point for a local bullish rally. We’ve got a “Hammer”, but...

EUR/USD: upper "Window" going to act as a resistance 2/17/2017 There’s a “Tower” pattern, which hasn’t been confirmed yet. So, the market is likely going to test the nearest support in the short term. If a pullback from this level happens, there’ll be an opportunity to have a local upward...

Gold: outlook for February 20-24 2/17/2017 Gold futures soared to $1242.80 per ounce in the course of the past week having posted their seventh weekly gain in eight weeks. Much of this rally has been based on the looming elections in Europe, political uncertainty in the US over tax cuts and the...

GBP/USD: outlook for February 20-24 2/17/2017 In line with our expectations GBP/USD spent the week consolidating between 1.2380 and 1.2550. The topic of Brexit is temporarily on the sidelines, ready to resurface later this month. Economic data released in the UK mostly disappointed. CPI growth...

EUR/USD: outlook for February 20-24 2/17/2017 EUR/USD dipped as low as to 1.0520. Economic data released in the euro area were mostly negative. GBP growth slowed down from 0.5% in Q3 to 0.4% in Q4. The region’s industrial production contracted more than expected in December, and ZEW economic...

US dollar: outlook for February 20-24 2/17/2017 US dollar index rose to 101.75 during the past week before returning back to 100.55 area. Economic data released in the US were mixed. January CPI, PPI, retail sales, building permits and Philly Fed manufacturing index exceeded forecast, although...

GBP/USD: price going to go around in a circle 2/17/2017 Bulls faced a resistance at 1.2509, so the price is consolidating. Meanwhile, the market is likely going to reach the next resistance at 1.2548 – 1.2581. However, if we see a pullback from this area, there’ll be an option to have a...

EUR/USD: bulls going to test the next resistance 2/17/2017 The price is consolidating under a resistance at 1.0684. At the same time, bulls are likely going to push the pair even higher during the day. If a pullback from a resistance at 1.0698 – 1.0707 happens, bears will probably try to test...

GBP/USD: pound returned to positive area 2/17/2017 Technical levels: support – 1.2490; resistance – 1.2560. Trade recommendations: 1. Buy — 1.2490; SL — 1.2470; TP1 — 1.2560; TP2 — 1.2590. Reason: narrow bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen...

EUR/USD: bulls tested Cloud’s resistance 2/17/2017 Technical levels: support – 1.0640; resistance – 1.0690, 1.0710. Trade recommendations: 1. Buy — 1.0640; SL — 1.0620; TP1 — 1.0690; TP2 – 1.0710. Reason: narrowing bearish Ichimoku Cloud; a cancelled dead cross of Tenkan-sen and Kijun-sen...

Morning brief for February 17 2/17/2017 Market participants had a peeve on the US dollar overnight after it weakened in the currency space despite the upbeat economic release. The greenback was softer mainly because of the US Treasury yields came off their recent highs. USD/JPY dropped to...

USD/CHF: bears-bulls 5-0 2/17/2017 On the USD/CHF daily chart, there is an implementation of the 5-0 pattern. After the correction at 50% level of the CD wave, the pair returned to the "bearish" trend. To restore it, sellers need to test the support at 0.985. On the USD/CHF daily chart, due...

GBP/USD: pound made friends with Wolfe waves 2/17/2017 On the GBP/USD daily chart, the triangle was formed. If quotes go beyond its upper boundary, it will increase the risks of continuation of the rally towards 1.26. In contrast, a successful test of the lower boundary of the triangle will...

CAD/CHF reversed from resistance zone 2/16/2016 CAD/CHF reversed from resistance zone Next sell target - 0.7600 CAD/CHF continues to fall after the recent sharp downward reversal from the powerful resistance zone lying between the key resistance level 0.7720 (which stopped the previous...

EUR/CAD reversed from strong support level 1.3830 2/16/2017 EUR/CAD reversed from strong support level 1.3830 Next buy target – 1.4270 EUR/CAD continues to rise following the earlier upward reversal from the strong support level 1.3830 (which reversed the previous impulse wave (i) with the...

EUR/USD: wave [ii] on the way 2/16/2017 Wave has been formed, so the price is rising. Previously wave 2 was ended like a zigzag. Therefore, bulls are likely going to deliver wave [ii] in the short term. The main intraday target is 8/8 MM Level. As we can see on the one-hour chart, there’s...

USD/JPY: bears going to test "Window" 2/16/2017 We’ve got a “Tweezers” and an “Engulfing” on the upper “Window”. At the same time, there’s an opportunity to have a local correction towards a resistance on the 89 Moving Average. If a pullback from this line happens, there’ll be an opportunity...