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EUR/USD: wave (ii) could be continued 1/5/2017 Wave (i) ended on 1/8 MM Level, so we’ve got an upward correction, which is taking place on the four-hours chart. The main target for wave (ii) is 3/8 MM Level, which could be a departure point for another impulse in wave (iii) of [iii]. We’ve...

USD/JPY: bulls going to test "Window" 1/5/2017 We’ve got plenty of bearish patterns such a “Shooting Star”, a “High Wave” and a “Harami”, which all have been confirmed enough. So, the price is likely going to test the nearest support by the last “Three Methods” pattern. If a pullback from...

EUR/USD: "Engulfing" stopped bulls 1/5/2017 There’s a consolidation, which is taking place on the four-hours chart. Also, we’ve got a “Shooting Star”, but there’s a resistance by the 21 Moving Average. So, the market is likely going to continue moving down until any bullish pattern arrives...

Key option levels for Thursday, January 5th 1/5/2017 EUR/USD Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 29 530 ↑ - 17 656 ↓ Closest resistance levels 1.0560; 1.0586; 1.0619; 1.0640 Closest support levels 1.0487; 1.0460...

GBP/USD: Pound doesn’t want to fall down 1/5/2017 Technical levels: support – 1.2300; resistance – 1.2350, 1.2410. Trade recommendations: 1. Buy — 1.2300; SL — 1.2280; TP1 — 1.2350; TP2 — 1.2410. Reason: bearish Ichimoku Cloud, but the rising Senkou Span A; a dead cross of Tenkan-sen and...

EUR/USD: Euro returned into the Cloud 1/5/2017 Technical levels: support – 1.0510, 1.0470; resistance – 1.0610. Trade recommendations: 1. Sell — 1.0610; SL — 1.0630; TP1 — 1.0510; TP2 – 1.0470. Reason: bearish mood of Ichimoku Cloud; a new dead cross of Tenkan-sen and Kijun-sen, but there is...

GBP/USD: bulls going to break the last high 1/5/2017 The pair faced a support at 1.2250 twice, so we’ve got a possible “Double Bottom” pattern. In this case, there’s an opportunity to have a bullish correction towards an area between the 89 Moving Average and the closest resistance at 1.2418...

EUR/USD: bullish "Thorn" 1/5/2017 We’ve got a bullish “Thorn”, which led to the current upward correction. The 89 Moving Average is acting as a resistance. However, bulls are likely going to break the downtrend, so we should keep an eye on the nearest resistance at 1.0655 as a possible...

AUD/CHF rising inside minor corrective wave 2 1/4/2017 AUD/CHF rising inside minor corrective wave 2 Next buy target - 0.7500 AUD/CHF continues to rise inside the minor corrective wave 2, which started earlier - when the pair reversed up from the support zone surrounding the powerful support...

AUD/USD reversed from support area 1/4/2016 AUD/USD reversed from support area Next buy target - 0.7320 AUD/USD continues to rise strongly inside the minor impulse wave (i) – which belongs to the impulse wave 3- which started earlier - when the pair reversed up sharply from the support zone...

EUR/USD: wave (iii) is about to start 1/4/2017 Wave (i) has ended on 1/8 MM Level, so the price is rising in wave (ii). Previously, we’ve got a zigzag in wave [ii]. So, if a pullback from 2/8 MM Level happens in the short term, bears are likely going to deliver a bearish impulse in wave...

USD/JPY: bulls ready to move on 1/4/2017 The price has tested the nearest resistance again, but we still don’t have any bearish pattern. Also, the last candles have been closed under the middle of the huge white candle. In this case, bulls are likely going to break the resistance soon...

EUR/USD: bearish "Shooting Star" A bearish trend is still on the table, so the middle of the last huge black candle acted as a resistance. Also, there’s a bearish “Three Methods” pattern. If it confirms, the market is likely going to continue falling down until any bullish pattern arrives...

Key option levels for Wednesday, January 4th 1/4/2017 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest - 7 417 ? + 21 502 ? Closest resistance levels 1.0451; 1.0487; 1.0505; 1.0529 Closest support levels 1.0410...

AUD/USD: aussie returned into the Cloud 1/4/2017 Technical levels: support – 0.7210, 0.7160; resistance – 0.7245, 0.7275. Trade recommendations: 1. Sell — 0.7275; SL — 0.7295; TP1 — 0.7210; TP2 — 0.7160. Reason: bearish Ichimoku Cloud; a cancelled dead cross of Tenkan-sen and Kijun-sen and...

EUR/USD: Euro started a new year with falling 1/4/2017 Technical levels: support – 1.0400, 1.0360; resistance – 1.0420, 1.0450, 1.0500. Trade recommendations: 1. Sell — 1.0450; SL — 1.0470; TP1 — 1.0400; TP2 – 1.0360. Reason: expanding bearish Ichimoku Cloud; a new dead cross of Tenkan-sen...

GBP/USD: bears going to deliver new low after correction 1/4/2017 We’ve got a new historical low, so the pair is consolidating. Meanwhile, there’s a “Flag”, so bears are likely going to test the nearest support at 1.1726. In this case, we could have a new low soon. If any bullish pattern...

EUR/USD: local bullish correction is coming 1/4/2017 The main trend is still bearish, so the price is consolidating under the Moving Averages. Also, there’s a “Triangle”, which lower side has been broken. In this case, the market is likely going to test the nearest support at 0.9859 – 0.9607...

EUR/USD ahead of FOMC minutes (December): No major hints are expected 1/4/2017 During December’s Fed meeting, the central bank decided to hike rates by 25 basis points in a move that was done mainly because the credibility should remain intact in the Fed, despite US election’s outcome. Also...

CAD/JPY reversed from support area 1/3/2017 CAD/JPY reversed from support area Next buy target - 88.80 CAD/JPY recently reversed up sharply from the support area lying between the support level 86.00 (which was set as the sell target in our previous forecast for this currency pair). The upward...