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GBP/AUD falling inside impulse waves (3) and ③ 2/3/2017 GBP/AUD falling inside impulse waves (3) and ③ Next sell target – 1.6050 GBP/AUD has been under bearish pressure following the earlier double reversal from the resistance zone lying between the resistance level 1.6750 and the 61.8%...

EUR/USD: wave 2 ended 2/3/2017 The price has come back under 8/8 MM Level, so wave 2 was likely ended in a form of a zigzag. Therefore, there’s an opportunity to have a bearish impulse in wave . In this case, the main intraday target is 7/8 MM Level. As we can see on the one-hour chart...

USD/JPY: bulls going to test Moving Average 2/3/2017 The last “Hammer” and “Inverted Hammer” have pushed the price towards the 34 Moving Average. Therefore, the price is likely going to test the next Moving Average line, which could be a departure point to another decline. More...

EUR/USD: bearish "Three Methods" 2/3/2017 We’ve got a “Doji Star”, which has been confirmed, so bears are likely going to test the lower “Window” and the 55 Moving Average. If any bullish pattern arrives later on, there’ll be an opportunity to have another upward price movement. There’s a...

GBP/USD: uptrend waiting for bears 2/3/2017 There’s a “V-Top”, so the market is likely going to test the nearest support at 1.2465. Considering a possible pullback from this level, there’s an opportunity to have an upward movement towards a resistance at 1.2581 – 1.2619 later on. The 89...

EUR/USD: bulls going to deliver new local high 2/3/2017 The price is consolidating in a range of the current “Rising Wedge”. Also, there’s a local “V-Top”, so the pair reached a support at 1.0745. In this case, bears are likely going to test the next support at 1.0719 – 1.0697. If a pullback...

Key option levels for Friday, February 3rd 2/3/2017 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 253 985 ? + 290 561 ? Closest resistance levels 1.0783; 1.0812; 1.0840; 1.0860 Closest support levels 1.0755...

USD/JPY: Dollar returned to Tenkan-sen 2/3/2017 Technical levels: support – 112.90; resistance – 113.70, 114.20. Trade recommendations: 1. Buy — 113.00; SL — 112.80; TP1 — 113.70; TP2 — 114.20. Reason: expanding bearish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen; a market is...

EUR/USD: euro corrected to Kijun-sen 2/3/2017 Technical levels: support – 1.0720; resistance – 1.0810, 1.0900. Trade recommendations: 1. Buy — 1.0720; SL — 1.0700; TP1 — 1.0810; TP2 – 1.0900. Reason: bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen; all the lines of...

NFP preview from major banks 2/3/2017 In case you decide to go with banks' guts, there are their forecasts for the nonfarm payrolls headline, the US unemployment rate, and average hourly earnings print (all are taken from eFX plus news). And our sage counsel will be following: trust everyone...

Morning brief for February 3 2/3/2017 The yen and Japanese 10-year yields skidded after the Bank of Japan committed itself to buying an unlimited number of bonds at a fixed rate. USD/JPY jumped to 113.07 on the session struggling to erase its weekly losses. EUR/USD skipped some points having...

Silver is poised to move southwards 2/3/2017 On the daily graph of silver, bulls are trying to settle above the upper boundary of the descending medium-term trading channel. If they fail to do so, the "bearish" trend will be restored. The first sign of buyers' weakness will be evident if prices...

USD/JPY: yen's surf 2/3/2017 On the USD/JPY daily chart, the fourth attempt of "bears" to test the support at 112.5 has failed. We wait for the development of consolidation in the range 112.5-115.35. A further course of events will depend on whether bulls manage to push the quotes beyond the...

AUD/USD rising inside minor impulse wave (iii) 2/2/2017 AUD/USD rising inside minor impulse wave (iii) Next buy target – 0.7750 AUD/USD continues to rise sharply inside the minor impulse wave (iii), which started earlier from the key support level 0.7520 (previous monthly high from December and...

AUD/JPY reversed from support area 2/2/2017 AUD/JPY reversed from support area Next buy target - 87.10 AUD/JPY continues to rise after the recent upward reversal from the support area lying between the key support level 85.50 (which also reversed the previous wave A) and the 50% Fibonacci...

Review on the book of Adam Grimes 2/2/2017 Adam Grimes in his book “The Art and Science of Technical Analysis” suggests a scientific foundation for numerous trading tools and techniques. A keen reader won’t find a holy grail there – a set of trading patterns and setups that need to be...

USD/JPY: Moving Average going to act as a resistance 2/2/2017 We’ve got a “Harami” and a “Three Black Crows” on the 21 & 13 Moving Averages. Both patterns have been confirmed, so the market is likely going to get a support on the nearest “Window”. If a pullback from this level happens...

EUR/USD: bulls going to test upper "Window" 2/2/2017 We’ve got a bullish “High Wave” on the 21 Moving Average, so the price is still rising. Considering that there isn’t any reversal pattern so far, the pair is likely going to continue moving up towards the nearest “Window”. If any bearish...

EUR/USD: bulls going even higher 2/2/2017 The market has been rising right after a pullback from 7/8 MM Level. So, wave [c] of 2 is likely going to be continued. In this case, we should keep an eye on +2/8 MM Level as a possible intraday target. There’s a bullish impulse in wave [c], which...

What’s new in the oil market? 2/2/2017 Oil prices slid down to $56.82 on Thursday as the Energy Information Administration report showed a sharp increase in the US crude and gasoline stockpiles. Other numerous fundamental factors are keeping oil prices firmly in the $50 – 60 range. In the...