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Fifth element and Power Ranger swing trading strategies 12/7/2016 Fifth element The main advantage of the fifth element strategy is that tells you ahead of time when the entry price will be, so you should spend lots of time in front of the screen waiting for the right to snatch a whaling sum...

EUR/USD: wave started 12/7/2016 We’ve got wave 2, which has formed a flat pattern. So, there’s an opportunity to have a bearish impulse in wave in the short term. In this case, the price is likely going to break -1/8 MM Level soon. As we can see on the one-hour chart, wave (v) of [c] is...

USD/CAD: forecasts from banks ahead of the BOC meeting 12/7/2016 Today, the Bank of Canada will announce its decision on the interest rate at 5:00 pm GMT+2. The market expects the BOC to keep policy rates on hold at 0.5%. The focus will be on the tone of the board’s statement. The recent data...

AUD/USD: bulls have lost its positions 12/7/2016 Technical levels: support – 0.7430; resistance – 0.7490. Trade recommendations: 1. Buy — 0.7450; SL — 0.7430; TP1 — 0.7490; TP2 — 0.7540. Reason: bearish Ichimoku Cloud and falling Senkou Span B; a golden cross of Tenkan-sen and Kijun-sen, but...

EUR/USD: correction may continue 12/7/2016 Technical levels: support – 1.0690, 1.0640; resistance – 1.0790, 1.0830/40. Trade recommendations: 1. Buy — 1.0690; SL — 1.0670; TP1 — 1.0790; TP2 – 1.0840. 2. Buy — 1.0730; SL — 1.0710; TP1 — 1.0790; TP2 – 1.0840. Reason: bearish mood of Ichimoku...

GBP/USD: "Double Top" led to decline 12/7/2016 The price faced a resistance at 1.2770, so we’ve got a “V-Top” pattern here. In this case, the market is likely going to decline towards a support by the trend. If bears be stopped here, there’ll be an option to have another bullish movement, so...

EUR/USD: "Breakaway Gap" going to act as a support 12/7/2016 We’ve got a “Double Top”, which has been formed under the 89 Moving Average. Therefore, the market is likely going to decline towards a support area at 1.0655 – 1.0594 in the short term. If a pullback from these levels happens...

Morning brief for December 7, 2016 12/7/2016 AUD/USD slumped to 0.7417 after Q3 GDP data indicated the biggest decline in over 5 years. Many analysts expect it to rebound in Q4 pointing at surging metal prices. NZD/USD changed only a little on the session. The pair is trading below 0.7125. We...

USD/CAD: bears are developing correction 12/7/2016 On the USD/CAD daily chart, there is a correction towards the uptrend. If the "bulls" fail to keep the quotes above the lower boundary of the rising trading channel, the "Shark" pattern may be realized. Its 88.6% target is located near the...

USD/JPY: yen lost its way in broad daylight 12/7/2016 On the USD/JPY daily chart, there is a consolidation within an uptrend. An update of the December high will allow prices to continue their rally towards 119. Alternatively, a successful test of the correction minimum at 112.85 can lead to...

USD/CAD & BoC Interest Rate Decision: Further bullish momentum for the Loonie? 12/7/2016 Today at 15:00 GMT will be released the Bank of Canada’s interest rate decision, which overnight rate is expected to remain on hold at 0.5%. The cCentral bank could bring some hints about current export...

GBP/AUD broke resistance zone 12/6/2016 GBP/AUD broke resistance zone Next buy target - 1.7650 GBP/AUD continues to rise after the recent breakout of the resistance zone lying between the resistance level 1.6960 (which stopped the previous a-wave of the active minor ABC correction 2 from the...

EUR/USD rising inside minor corrective wave (iv) 12/6/2016 EUR/USD rising inside minor corrective wave (iv) Next buy target – 1.0850 EUR/USD recently rose sharply inside the minor corrective wave (iv) – which started earlier – when the pair reversed up from the powerful, long-term support level...

Consequences of the Italian referendum 12/6/2016 The euro managed to recover from early losses following the uncanny NO vote to the changes in Italian constitution. Polls showed that an overwhelming majority regarded the referendum as a chance to express dissatisfaction with the Renzi’s...

EUR/USD: wave 2 ended 12/6/2016 It seems like wave 2 ended in a form of a flat, so we’ve got a bullish impulse in wave [c]. If the price finds a lodgement under 0/8 MM Level, there’ll be an opportunity to have another bearish impulse in wave . The nearest intraday target is -1/8 MM Level...

USD/JPY: local "Engulfing" 12/6/2016 The 21 Moving Average acted as a support. Moreover, we’ve got a “Harami” pattern, but its confirmation is a quite weak. So, bears are likely going to move on. As we can see on the Daily chart, here’s a “High Wave” pattern, so there’s an opportunity to have...

EUR/USD: bearish "Harami" 12/6/2016 We’ve got a “Shooting Star” at the local high, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to get the nearest support line, which could be a departure point for another upward movement. As we can see on the Daily chart...

GBP/USD: unstoppable bulls 12/6/2016 The price is rising. Also, we’ve got a resistance at 1.2770, so the market is likely going to decline towards a support at 1.2672. If a pullback from this level happens, there’ll be an opportunity to have another upward movement towards a resistance at...

EUR/USD: Moving Average acted as a resistance 12/6/2016 We’ve got a “Double Bottom”, which has been confirmed enough. Also, the 89 Moving Average has acted as a resistance. Therefore, the market is likely going to reach the nearest support area at 1.0708 – 1.0685 in the short term. If a...

Key option levels for Tuesday, December 6th 12/6/2016 EUR/USD Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 3 969 ? - 18 790 ? Closest resistance levels 1.0795; 1.0819; 1.0838; 1.0862 Closest support levels 1.0747...