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EUR/USD: wave 2 going to move on 11/29/2016 Wave 1 finished last week, so there’s wave 2, which is taking form of a zigzag. Therefore, it’s likely to see wave [c] of 2 soon. The main intraday target is 0/8 Murrey Math Level (P=200). As we can see on the one-hour chart, there’s a wedge in...

USD/JPY: bearish "Evening Star" 11/29/2016 We’ve got a “Harami” and a “Hammer”, which both have been confirmed. However, there’re a support by the 21 Moving Average and a resistance by the nearest “Window”. So, the price is likely going to go through the “Window” and test the closest...

EUR/USD: "Engulfing" points to local decline 11/29/2016 We’ve got a “Shooting Star” on the 34 Moving Average, which has been confirmed enough. So, the price is likely going to test the 21 Moving Average once again. As we can see on the Daily chart, there’s a “High Wave” at the local high, so...

USD/TRY short-term and near-term outlook 11/29/2016 After the US general election, the Turkish lira slumped more than any other emerging market currencies as Donald Trump’s win stoked inflation expectations pushing US yields higher and diminishing the appeal of riskier assets. On November 24...

Key option levels for Tuesday, November 29th 11/29/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 69 485 ? + 48 166 ? Closest resistance levels 1.0616; 1.0640; 1.0665; 1.0704 Closest support levels 1.0589...

In the countdown to the OPEC meeting 11/29/2016 The OPEC members will meet in Vienna on Wednesday to decide on the details of the output cut deal that was agreed in Algiers two months ago. The cartel is trying to reach an agreement to curb its supply for the first time since the financial...

GBP/USD: "Pennant" inside the consolidation 11/29/2016 We’ve got a flat, which is taking place near the uptrend. So, the market is likely going to decline towards a support at 1.2379 – 1.2352 in the short term. If we have a pullback from these levels, bulls will probably try to reach the...

EUR/USD: bearish "Flag" 11/29/2016 The price faced a resistance on the 34 Moving Average, so we've got a "V-Top" pattern. Therefore, the price is likely going to decline towards a support at 1.0517 in the short term. If we see a pullback from this level, bulls will probably try to achieve the...

AUD/USD: trying to reach Senkou Span B 11/29/2016 Technical levels: support – 0.7450; resistance – 0.7540. Trade recommendations: 1. Sell — 0.7540; SL — 0.7560; TP1 — 0.7440; TP2 — 0.7390. Reason: bearish Ichimoku Cloud and rising Senkou Span A and Tenkan-sen; a correctional golden cross of...

GBP/USD: on the Cloud again 11/29/2016 Technical levels: support – 1.2390; resistance – 1.2465. Trade recommendations: 1. Buy — 1.2430; SL — 1.2410; TP1 — 1.2520; TP2 — 1.2610. 2. Sell — 1.2380; SL — 1.2400; TP1 — 1.2310; TP2 — 1.2230. Reason: narrow bullish Ichimoku Cloud; a weak golden...

NZD/USD: kiwi tamed Shark 11/29/2016 On the NZD/USD daily chart, the 'bulls' are going to retest the neckline of the "Head and shoulders" pattern. If they fail to do so, it will be a signal for the opening of short positions. In this scenario, the quotes may return to the lower boundary of the...

GBP/USD: pound found a "firm" shoulder 11/29/2016 On the GBP/USD daily chart, quotes come closer to the lower boundary of the upward trading channel. A successful test of the diagonal support will open the way for "bears" towards 1,215. There is 88.6% target in the "Shark" pattern. The rebound...

USD/JPY & US GDP data: Further declines or new highs coming? 11/29/2016 Today at 13:30 GMT will be released the US GDP data for Q3 and it seems that we’ll see a slight increase from 2.9% to 3.0%. Revisions could come, by the way, as GDP report had been showing some variations from initial...

EUR/USD: wave 1 finished We’ve got a bearish impulse in wave 1. Previously, a triangle in wave (Y) was formed, so bears came back into the market. It’s likely that bulls are going to deliver wave 2 in the short term. However, there’s an opportunity to have another bearish impulse wave...

EUR/AUD falling inside minor impulse wave (iii) 11/28/2016 EUR/AUD falling inside minor impulse wave (iii) Next sell target - 1.4130 EUR/AUD continues to fall inside the minor impulse wave (iii), which started earlier from the resistance zone lying between the powerful resistance level 1.4470...

GBP/JPY reversed from resistance area 11/28/2016 GBP/JPY reversed from resistance area Next sell target – 138.00 GBP/JPY recently reversed down from the resistance area lying between the pivotal resistance level 142.00 (which also earlier reversed the previous A-wave in July), upper daily...

USD/JPY: "Three Methods" pushing the price higher 11/28/2016 We’ve got a “Harami” and a “Tweezers”, which both have been confirmed enough. Also, there’re a “Hammer” on the 21 Moving Average, but this pattern hasn’t been confirmed yet. So, the nearest “Window” is likely going to act as a...

EUR/USD: "Tower" at the local high 11/28/2016 We’ve got a “Shooting Star”, but a confirmation of this pattern is a quite weak. So, the price is likely going to test the nearest support once again. If a pullback from this line happens, there’ll be an opportunity to have a local upward price...

Headlines of this week 11/28/2016 Brexit: never-ending legal battle The government faces with a new legal hurdle on its way to the exiting from the EU. This time the legal question is focused on whether the UK will not leave the European Economic Area automatically when it leaves the European...

US dollar: outlook for Nov. 28-Dec. 2 11/28/2016 Last week the US dollar managed to strengthen versus the other currencies last week, but its gains were smaller than in the two previous weeks. The US dollar index (DXY) failed to overcome resistance at 102.00. This week the greenback opened with...