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Outlook for commodity currencies 12/23/2016 After brief recovery followed by Australia’s mid-year budget update, the AUD/USD resumed with its bearish trend and remained under selling pressure until Friday. Falling iron ore prices and subdued growth of Chinese economy are the key factors that...

Key option levels for Friday, December 23th 12/23/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 17 620 ? + 24 681 ? Closest resistance levels 1.0487; 1.0527; 1.0545; 1.0568 Closest support levels 1.0432...

GBP/USD: bears going to move on 12/23/2016 The last “Pennant” pattern has been broken, so the price found a support at 1.2270, which led to the current consolidation. Under this circumstances, the market is likely going to decline in the direction of the nearest support at 1.2270 – 1.2205. If...

EUR/USD: "Thorn" stopped bulls 12/23/2016 The price has faced a resistance at 1.0506, so we’ve got a “Thorn” pattern, which led to a local decline. Therefore, the market is likely going to continue falling down towards a support at 1.0365. If a pullback from this level happens, there’ll be an...

USD/JPY: on the Cloud’s support 12/23/2016 Technical levels: support – 117.30; resistance – 118.70, 119.20. Trade recommendations: 1. Buy — 117.30; SL — 117.10; TP1 — 118.70; TP2 — 119.20. Reason: bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen; the prices are on the Kijun...

GBP/USD: new lows of December 12/23/2016 Technical levels: support – 1.2255, 1.2230; resistance – 1.2330. Trade recommendations: 1. Sell — 1.2330; SL — 1.2350; TP1 — 1.2255; TP2 — 1.2230. Reason: bearish character of Ichimoku Cloud, falling Senkou Span A and B; a dead cross of Tenkan-sen and...

EUR/USD: correction to Cloud complete 12/23/2016 Technical levels: support – 1.0380, 1.0410; resistance – 1.0450, 1.0470/90. Trade recommendations: 1. Sell — 1.0450; SL — 1.0470; TP1 — 1.0380; TP2 – 1.0340. Reason: bearish Ichimoku Cloud and horizontal lines of the Ichimoku Indicator; a weak...

Morning brief for December 23 12/23/2016 Financial markets seem to be neglected by their participants in the countdown to major holidays of the year. Today’s Asian session was drowsy. Zzzzzz…………..There is almost nothing to report.All the major macro events now behind us and a spike in...

AUD/USD: bears accelerate their pace 12/23/2016 On the AUD/USD daily chart, there is an acceleration of the downtrend. If the "bears" manage to hold below the 0.7214 level (88.6% Fibonacci retracement level of the last upward wave), their counterparts may lose hope for the restoration of the...

NZD/USD: kiwi fulfilled its target 12/23/2016 On the NZD/USD daily chart, quotes dropped below 0.7 level. The target formed at the 0.7187 on the short positions was fulfilled. The fact that the quotes went beyond the long-term rising channel signals us that the bears took the initiative in...

EUR/JPY reversed from support area 12/22/2016 EUR/JPY reversed from support area Next buy target - 86.00 EUR/JPY continues to rise after the earlier sharp upward reversal from the support area lying between the pivotal support level 122.00, 38.2% Fibonacci correction level of the previous sharp...

EUR/CHF reversed from support zone 12/22/2016 EUR/CHF reversed from support zone Next buy target – 1.0750 EUR/CHF recently reversed up from the support zone lying between the support levels 1.0700 (previous sell target) and 1.0680 (which stopped the earlier minor impulse wave 1 in November, as...

EUR/USD: wave [ii] going to move on 12/22/2016 The price is developing wave [ii], which was started right after the pullback from 1/8 MM Level. However, if 2/8 MM Level acts as a resistance, there’ll be an opportunity to have wave [iii]. In this case we should keep an eye on -1/8 MM Level as...

USD/JPY: bulls going to run out of flat 12/22/2016 There’s an “Engulfing” at the local low. If this pattern confirms, the price is likely going to test the upper “Window” once again. As we can see on the Daily chart, there isn’t any reversal pattern so far. In this case, bulls are likely...

EUR/USD: bullish "Three Methods" 12/22/2016 We’ve got an “Engulfing”, which has been confirmed. Also, there’s a “Three Methods” pattern, so the market is likely going to test the 34 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have a local bearish...

Key option levels for Thursday, December 22th 12/22/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 42 415 ? + 20 124 ? Closest resistance levels 1.0480; 1.0521; 1.0539; 1.0577/93 Closest support levels 1.0424...

GBP/USD: bears going to deliver a new low 12/22/2016 The price faced a support at 1.2309, so we’ve got a “V-Bottom” pattern. At the same time, we’ve got a bearish “Pennant”, so the market is likely going to decline towards the nearest support at 1.2309 - 1.2270. If a pullback from these...

EUR/USD: "Flag" pushing the market lower 12/22/2016 The price is consolidating under a resistance at 1.0461. Considering the main downtrend, the market is likely going to decline towards a support at 1.0340 in the short term. If a pullback from this level happens, there’ll be an opportunity...

GBP/USD: consolidation on Tenkan-sen 12/22/2016 Technical levels: support – 1.2350; resistance – 1.2390, 1.2410. Trade recommendations: 1. Sell — 1.2390; SL — 1.2410; TP1 — 1.2320; TP2 — 1.2300. Reason: bearish character of Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen...

EUR/USD: Euro corrected in a Cloud direction[/B} 12/22/2016 Technical levels: support – 1.0380, 1.0410; resistance – 1.0450, 1.0470. Trade recommendations: 1. Sell — 1.0470; SL — 1.0490; TP1 — 1.0380; TP2 – 1.0340. Reason: bearish Ichimoku Cloud and horizontal lines of the Ichimoku...