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USD/JPY: "Window" going to act as a support 12/8/2016 We’ve got an “Engulfing”, which has been confirmed enough. Therefore, the price is likely going to decline towards the nearest “Window”. If any bullish pattern forms later on, there’ll be an opportunity to have another bullish movement. As...

EUR/USD: bearish "Harami" 12/8/2016 The price is still rising, so we don’t have any reversal pattern so far. In this case, bulls are likely going to move on towards the nearest “Window”. As we can see on the Daily chart, the last “Harami” wasn’t confirmed, so the market is likely going to...

EUR/USD: wave 2 going to be continued 12/8/2016 The price is still rising, so wave 2 could take a form of a flat. In this case, an impulse in wave [c] is likely going to be continued. Therefore, we should keep an eye on 2/8 MM Level as a possible intraday target. As we can see on the...

GBP/USD: bulls going to test high 12/8/2016 There’s a “V-Bottom”, which led to the current upward price movement. In this case, the market is likely going to reach a resistance at 1.2770 – 1.2795 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a...

EUR/USD: bullish "Flag" 12/8/2016 The price is consolidating under the 89 Moving Average. Also, there’s a “Flag” pattern, so the market is likely going to continue rising towards a resistance at 1.0815 – 1.0850. If a pullback from this area happens, there’ll be an opportunity to have another...

Banks' guidance ahead of the ECB meeting 12/8/2016 It seems that everything is clear the ECB will extend its asset-purchasing program, and send the euro lower. But banks smell a rat in this announcement. The ECB should introduce more easing measures, but it may simultaneously point to the...

Review on David Powell’s book 12/8/2016 Perhaps every trader has his “favorite” currency, the one that brought him lots of money. If you prefer trading currency pairs containing EUR, you’d probably be interested in reading “The trader’s guide to the euro area” written by the chief euro area...

Key option levels for Thursday, December 8th 12/8/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 62 814 ? + 99 575 ? Closest resistance levels 1.0775(?); 1.0797; 1.0817; 1.0844 Closest support levels 1.0748...

What will happen with the euro after the ECB meeting? 12/8/2016 Morgan Stanley’s strategists believe that the ECB will keep rates on hold at this week’s meeting, but can expand its QE purchase program. But they consider different scenarios with various responses from the euro. Potential...

AUD/USD: going to Senkou Span B 12/8/2016 Technical levels: support – 0.7460; resistance – 0.7490, 0.7540. Trade recommendations: 1. Buy — 0.7460; SL — 0.7440; TP1 — 0.7490; TP2 — 0.7540. Reason: bearish Ichimoku Cloud and rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen and...

GBP/USD: in correction to the Cloud 12/8/2016 Technical levels: support – 1.2550; resistance – 1.2670, 1.2730. Trade recommendations: 1. Sell — 1.2670; SL — 1.2690; TP1 — 1.2600; TP2 — 1.2550. Reason: bullish Ichimoku Cloud and horizontal Senkou Span A and B; a cancelled golden cross of...

Morning brief for December 8, 2016 12/8/2016 The euro popped up with aplomb above 1.0770 from an early trough at 1.0750. The ECB decision followed by the press conference will be the main story over the next hours. Buckle up for a ride in EUR/USD. The ECB is expected to extend its...

EUR/USD: euro waits for a rollercoaster ride 12/8/2016 On the EUR/USD daily chart, there is a correction towards the downtrend. A breakout of the upper boundary of the bars, formed on December 5-6, will increase the risk of rollback towards 1,093. This mark corresponds to the 38.2% Fibonacci...

AUD/USD: bulls are dreaming of revenge 12/8/2016 On the AUD/USD daily chart, a breakout of the resistance at 0.749 can activate the "Bat" inverted pattern followed by the return of quotes to the lower boundary of the last upward trading channel. There is 88.6% target of the "Bat" pattern. The...

EUR/USD & ECB interest rate decision - Next step: parity zone? 12/8/2016 Today’s ECB meeting at 12:45 GMT will be the last of the year, but also, it will be one of the most important, ahead of next week’s Federal Reserve meeting. The central bank has been keeping unchanged the interest rates...

EUR/GBP reversed from support zone 12/7/2016 EUR/GBP reversed from support zone Next buy target - 0.8600 EUR/GBP recently reversed up sharply from the support zone lying between the support level 0.8350 (which also earlier reversed the previous minor correction 4 at the start of September), the...

GBP/CAD reversed from resistance zone 12/7/2016 GBP/CAD reversed from resistance zone Next sell target – 1.6400 GBP/CAD continues to decline – after the recent downward reversal from the resistance zone lying between the round resistance level 1.7000, upper daily Bollinger Band, resistance...

USD/JPY: bearish "Tower" 12/7/2016 The 13 & 21 Moving Average acted as a support, so there’s a bearish “Engulfing”, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to decline towards the nearest support. If a pullback from this level happens, there’ll be an...

EUR/USD: local "Harami" 12/7/2016 We’ve got a “Shooting Star” and a “Tower”, which both have been confirmed. So, the current bearish correction is likely going to move on towards the nearest “Window”. As we can see on the Daily chart, here’s a “Harami” at the local high, so bears are likely...

Key option levels for Wednesday, December 7th 12/7/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest -No data- -No data- Closest resistance levels 1.0733; 1.0749; 1.0782; 1.0807 Closest support levels 1.0707...