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GBP/USD: bullish "Pennant" 11/22/2016 We’ve got a “Double Bottom” pattern, so the price faced a resistance at 1.2476. Nevertheless, the pair is likely going to achieve the next resistance at 1.2556 – 1.2621. If a pullback from this area happens, then bears will probably try to reach a support...

EUR/USD: "Diamond" at the low 11/22/2016 The price faced a support at 1.0565, which led to the current consolidation. Also, it’s likely to see a reversal pattern. If it confirms, there’ll be an opportunity to have an upward correction in the direction of the nearest resistance at 1.0673 -...

USD/JPY: on the 6-W highs 11/22/2016 Technical levels: support – 110.60, 109.90; resistance – 111.40, 111.90. Trade recommendations: 1. Sell — 111.90; SL — 112.10; TP1 — 110.60; TP2 — 109.90. Reason: bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen; but there is an...

AUD/USD: correction in Tenkan-Kijun range 11/22/2016 Technical levels: support – 0.7360; resistance – 0.7440. Trade recommendations: 1. Sell — 0.7440; SL — 0.7460; TP1 — 0.7360; TP2 — 0.7320. Reason: bearish Ichimoku Cloud and falling Senkou Span A; dead cross of Tenkan-sen and Kijun-sen...

GBP/USD: testing the upper boundary 11/22/2016 Technical levels: support – 1.2410/20; resistance – 1.2520, 1.2490. Trade recommendations: 1. Buy — 1.2420; SL — 1.2400; TP1 — 1.2520; TP2 — 1.2610. Reason: bullish Ichimoku Cloud; cancelled dead cross of Tenkan-sen and Kijun-sen; a support of...

Morning brief for November 22, 2016. 11/22/2016 EUR/USD rose to 1.0650 on the session helped by news that Angela Merkel will run for a fourth term as German chancellor. The dollar has weakened due to the fall of 10Y US Treasuries yields. On Monday, ECB President Mario Draghi didn’t offer...

EUR/USD: euro is dreaming of the balance of powers 11/22/2016 On the EUR/USD daily chart, there are two long-term patterns - "Head and shoulders" and "Crab". Target 161.8% in the "Crab" pattern corresponds to 1,004. The outlook for this pair is still "bearish", so, correction should be used...

AUD/USD: bears slackened opposition 11/22/2016 On the AUD/USD daily chart, after the target on the short positions has been fulfilled, quotes moved towards the support at 0.7304 (23.6% Fibonacci retracement level from the medium-term downward wave). The "bears" failed to test it, however, they...

USD/CAD & Core Retail Sales for September: a rebound is coming in the Loonie? 11/22/2016 Today at 13:30 GMT we’ll have a key indicator from Canada, as the Core Retail Sales for September will be released and market’s analysts are expecting a positive data from 0.0% to 0.5%. From June, the data...

EUR/GBP: technical and fundemantal analysis 11/21/2016 EUR/GBP is trading around 0.8580 level consolidating after significant downfall. If the euro manages to overcome 0.8636 (100-day MA) resistance, the prices might edge up towards 0.8778 (50-day MA, the lower boundary of Ichimoku cloud). The...

EUR/USD: extension in wave [iii] 11/21/2016 There’s a bearish extension in wave [iii], which is taking place on the four-hours chart. The main intraday target is -2/8 Murrey Math Level (P=200). So, bears are likely going to deliver a new low shortly. As we can see on the one-hour chart...

NZD/USD reversed from support zone 11/21/2016 NZD/USD reversed from support zone Next buy target - 0.7150 NZD/USD today reversed up from the support zone lying between the strong multi-month support level 0.7000 (which has been steadily reversing the price from the middle of June, as can be...

AUD/USD reversed from pivotal support level 0.7320 11/21/2016 AUD/USD reversed from pivotal support level 0.7320 Next buy target – 0.7440 AUD/USD continues to rise after the earlier upward reversal from the pivotal support level 0.7320 (which reversed the previous waves (iv) and (ii) in June...

Fibonacci Expansions 11/21/2016 In the last article, we’ve learned how to draw/use Fibonacci retracement. Today we will discover another effective technical tool – Fibonacci expansion. It may help you to identify exit levels, which will maximize your profit. We often face with some temporary...

USD/JPY: "Tweezers" and "Tower" 11/21/2016 The price has been rising since a “Harami” was formed at the last low. Meanwhile, there’s an “Engulfing” at the local high. If this pattern confirms, the market is likely going to test the 13 Moving Average. If a pullback from this line happens...

EUR/USD: "Engulfing" on the Moving Average 11/21/2016 There’s a “Doji” pattern, which has been confirmed enough, so the market is likely going to reach the 21 Moving Average in the short term. If we see a pullback from this line, there’ll be an opportunity to have another bearish price...

Forecasts from banks for main currency pairs 11/21/2016 Banks rush to your aid! If you trust the opinion of high-profile currency specialists, this article will be useful for you. There are some trading recommendations for the upcoming week. Goldman Sachs The GS’s strategists admit that the...

GBP/USD: broken "Triangle" 111/21/2016 The price faced a support at 1.2330, so we’ve got a local correction. At the same time, bears are likely going to move on, so we should keep an eye on the next support at 1.2226 as a possible intraday target. The last “Triangle” has been broken, so...

EUR/USD: bears going to test the next support 11/21/2016 Bears faced a support at 1.0600, so the price is consolidating. Meanwhile, the market is likely going to continue falling down towards the next support at 1.0550 – 1.0522. If a pullback from this area happens, there’ll be an opportunity...

Key option levels for Monday, November 21th 11/21/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 96 364 ? + 112 944 ? Closest resistance levels 1.0630; 1.0662; 1.0691; 1.0709 Closest support levels 1.0582...