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EUR/USD: "Shooting Star" stopped bullish rally 12/29/2016 The price is testing the 34 Moving Average. If we see any bearish pattern on this line, there’ll be an opportunity to have a local correction. As we can see on the Daily chart, there’s a possible “Engulfing” pattern, so bulls will...

AUD/USD: outlook for 2017 12/29/2016 Aussie made a big swing in the course of the past year starting on a rather merry note and ending with a fizzle. AUD/USD slumped to its multi-month low on the US election outcome and the US Federal Reserve’s rate hike. All in all, by the end of 2016 the pair...

GBP/USD: outlook for 2017 12/29/2016 The British pound fell in 2016 against other major currencies firstly after British people voted in June for their nation to leave the European Union and then as the Bank of England slashed its interest rates and unveiled monetary stimulus package. The...

EUR/USD: bullish impulse in wave (c) of [ii] 12/29/2016 The last bearish impulse in wave has ended on 1/8 MM Level, so the price is moving up in wave [ii]. If we see a pullback from 2/8 MM Level, bears are likely going to deliver wave [iii]. In this case we should keep an eye on -1/8 MM...

Key option levels for Thursday, December 29th 12/29/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 25 173 ↑ + 56 113 ↑ Closest resistance levels 1.0466; 1.0508; 1.0526; 1.0551/65 Closest support levels 1.0413...

GBP/USD: "V-Bottom" led to correction 12/29/2016 Bears faced a support at 1.2205, so we’ve got a “V-Bottom” pattern here. Therefore, the market is likely going to reach the nearest resistance at 1.2270 – 1.2309. Considering a possible pullback from this area, there’s an opportunity to have a...

EUR/USD: "Thorn" stopped bears 12/29/2016 The main trend is bearish, so the last “Wedge” pattern has been broken. However, the price faced a support at 1.0373, which led to form a “V-Bottom” pattern. In this case, the market is likely going to reach the nearest resistance at 1.0506 – 1.0524...

Morning brief report for December 29 12/29/2016 EUR/USD rose to 1.0460 on the typical for the year-end profit-taking. The US 10-year bond yields dropped towards 2.4930 – it’s their lowest levels in 2 weeks. The Eurozone yields also extended their losses, but to a lesser extent. This happens...

USD/CAD reached buy target 1.3590 12/28/2016 USD/CAD reached buy target 1.3590 Next buy target - 1.3700 USD/CAD continues to rise after the recent breakout of the key resistance level 1.3590 (which stopped the earlier intermediate impulse wave (1) November and which was set as the buy target in...

EUR/USD reversed from resistance zone 12/28/2016 EUR/USD reversed from resistance zone Next sell target - 1.0350 EUR/USD continues to fall inside the minor impulse wave (iii) – which started previously from the resistance zone lying between the key resistance level 1.0500, 50% Fibonacci...

USD/JPY: bulls going to push the price even higher 12/28/2016 We’ve got a “Tweezers”, which has been confirmed enough. Also, there’s a bullish “Three Methods” pattern, so bulls are likely going to test the upper “Window” once again. As we can see on the Daily chart, here’s an “Engulfing” at...

EUR/USD: "Tweezers" led to decline 12/28/2016 There’s a resistance by the 34 Moving Average, so we’ve got an “Engulfing” on this line, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to test the nearest support. If we have a pullback from this level, bulls...

EUR/USD: "flat" in wave (b) 12/28/2016 The price is still developing wave [ii], which is likely going to be continued in the short term. So, we should keep an eye on 2/8 MM Level as a possible intraday target. If a pullback from this level happens, there’ll be an opportunity to have another...

Annual forecasts for emerging market currencies 12/28/2016 As we approach a rather volatile year for the G10 currencies, you might consider switching to its emerging markets homologues as some of the latter ones are expected to do better in 2017 than they used to in turbulent 2016. And the...

Key option levels for Wednesday, December 28th EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 9 665 ? + 24 104 ? Closest resistance levels 1.0509; 1.0544; 1.0561; 1.0582/95 Closest support levels 1.0451; 1.0429...

GBP/USD: "Pennant" highlights to another decline 12/28/2016 There’s a flat, which is taking place between a support at 1.2227 and a resistance at 1.2309. Also, we’ve got a “Pennant”, so the market is likely going to reach a support at 1.2227 – 1.2205. Considering a possible pullback from this...

EUR/USD: bearish "Wedge" 12/28/2016 The price is still consolidating on the four-hours chart. Also, there’s a “Wedge” pattern, so the market is likely going to reach a support at 1.0373 – 1.0340. If a pullback from this area happens, there’ll be an opportunity to have a bullish movement...

USD/JPY: bulls gone to attack 12/28/2016 Technical levels: support – 117.40; resistance – 118.70, 119.20. Trade recommendations: 1. Buy — 117.40; SL — 117.20; TP1 — 118.70; TP2 — 119.20. Reason: bullish Ichimoku Cloud, rising Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen and...

EUR/USD: still in correction mood 12/28/2016 Technical levels: support – 1.0460, 1.0425; resistance – 1.0515. Trade recommendations: 1. Sell — 1.0460; SL — 1.0480; TP1 — 1.0340; TP2 – 1.0310. Reason: bearish Ichimoku Cloud, but the rising Senkou Span A; an irregular dead cross of Tenkan-sen...

Morning brief for December 28 12/28/2016 It seems that somebody delivered a portion of 100% arabica to financial and commodity markets as they manage to wake up from the deep sleep. There were some small movements across the trading desk. EUR/USD climbed higher to 1.0468 on the Asian...