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USD/JPY: consolidation in channel Tenkan-Kijun 10/26/2016 Technical levels: support – 104.00/05; resistance – 105.20, 105.70. Trade recommendations: 1. Buy — 104.10; SL — 103.90; TP1 — 105.20; TP2 — 105.70. Reason: bullish Ichimoku Cloud and rising Senkou Span A and B; golden cross of...

AUD/USD: trades going to positive zone 10/26/2016 Technical levels: support – 0.7670, 0.7650; resistance – 0.7710, 0.7760. Trade recommendations: 1. Buy — 0.7670; SL — 0.7650; TP1 — 0.7710; TP2 — 0.7760. Reason: bullish Ichimoku Cloud; cancelled dead cross of Tenkan-sen and Kijun-sen; a...

EUR/USD: in correction to Kijun 10/26/2016 Technical levels: support – 1.0890; resistance – 1.0945. Trade recommendations: 1. Sell — 1.0945; SL — 1.0965; TP1 — 1.0890; TP2 – 1.0860. Reason: dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; bearish character of...

Scaling in trading approach 10/26/2016 Neither traders nor high-profile analysts can say for sure which way the prices will go. If traders knew, they would commit all their funds at the top or the bottom of the technical chart in order not to lose a chance of snatching great sum of money, and...

GBP/USD: intraday "Pennant" 10/26/2016 The lower side of the last “Wedge” pattern has been broken. The price faced a support at 1.2089, which led to the current upward correction. Therefore, bears are likely going to move on, cause we haven’t got any confirmed reversal pattern so far...

EUR/USD: small local "Flag" 10/26/2016 The last bearish “Flag” was broken yesterday. However, the price came back to the previous levels, so there’s an opportunity to see an upward correction. At the same time, the nearest support at 1.0847 could be tested once again. If so, bulls are likely...

Morning brief for October 26, 2016 10/26/2016 Aussie hopped today having reached the 0.7708 resistance line on the better-than-expected inflation data. Consumer prices rose 0.7% in the last quarter, but the annual headline inflation remained at an anemic 1.3%. The quarterly increase could...

USD/JPY: bulls faced with pin-bar 10/26/2016 On the USD/JPY daily chart, "bull" showed weakness having failed to consolidate above the previously reached high. As a result counterattack, "bearish" pin bar has been formed. Breakout of the support line at the minimum of the pin-bar (at 104.06)...

Gold is returning to the trend 10/26/2016 On the daily chart of gold, "bulls" failed to test the resistance line at $1273-1276 per ounce. If they manage to break it, they will move up further towards $1292 and $1308 levels (38.2% and 50% levels from the last mid-term downward wave). On the...

EUR/USD & New Home Sales: Can we see further bullish momentum after the data? 10/26/2016 Today at 14:00 GMT will be released the US New Home Sales data for September and we’re expecting to see a slight decrease to 600,000 from 609,000. With that being said, markets should react against the US...

Keep in focus M. Draghi’s speech 10/25/2016 Last week Mario Draghi ascertained the reporters that an abrupt end of the bond-buying program is unlikely in the forthcoming future. In addition, he sent a clear signal that the QE program will likely be if not expanded, but at least extended beyond...

USD/JPY: bulls going to deliver new high 10/25/2016 The 21 & 34 Moving Averages acted as a support, so the price is likely going to test the nearest resistance level. As we can see on the Daily chart, bulls are going to reach the upper side on the “Window”. If any reversal pattern arrives...

October’s market trend 10/25/2016 Currency volatility felt significantly on the triple-win of Hillary Clinton in the presidential debates and on the market pricing the probability of the US interest rate hike. The dollar managed to rise at a seventh-month high not stopping its rally in the...

EUR/USD: "Tweezers" set up bullish correction 10/25/2016 The previously formed “Tweezers” pattern on the one-hour chart has been confirmed. Therefore, the market is likely going to achieve the 89 Moving Average. If we see a pullback from this line, bears will probably try to test the last...

AUD/JPY reversed from support level 78.70 10/25/2016 AUD/JPY reversed from support level 78.70 Next buy target - 81.00 AUD/JPY continues to rise following the earlier upward reversal from the support level 78.70 (former resistance level and the upper boundary of the sideways price channel from...

NZD/CAD rising inside impulse waves 3 and (3) 10/25/2016 NZD/CAD rising inside impulse waves 3 and (3) Next buy target - 0.9640 NZD/CAD has been rising steadily in the last few trading sessions inside the active minor impulse wave 3, which started earlier – when the pair...

Forecasts for AUD/USD ahead of the Australian CPI release 10/25/2016 Aussie surged today on the rising commodity prices having broken the resistance line at 0.7603. Now it paves its way towards the cherished resistance line at 0.7737. Tomorrow we will be waiting for the Australian Consumer...

GBP/USD: flat inside "Wedge" 10/25/2016 The price is consolidating under the 34 Moving Average. There’s a possible “Rising Wedge” pattern, so bears are likely going to reach a support at 1.2089 in the short term. If any bullish pattern arrives afterwards, there’ll be an opportunity to have an...

EUR/USD: bearish "Flag" 10/25/2016 The price faced a support at 1.0847, which led to the current consolidation. Also, we’ve got a “Flag” pattern, so the market is likely going to reach the nearest support at 1.0821. If a pullback from this level happens, there’ll be an opportunity to have...

Beware of the UK High Court decision on Brexit legality 10/25/2016 According to Deutsche Bank, the UK High Court should decide this week whether the government has the authority to trigger the legal process of leaving the European Union without a parliamentary vote or not. What decision to...