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EUR/USD: "Window" has been broken 10/6/2016 There’s an “Engulfing” at the local high, which has been confirmed, so the market is likely going to reach the nearest resistance line in the short term. As we can see on the Daily chart, here’s another “Engulfing”, so bears are likely going to move...

Key option levels for Thursday, October 6th 10/6/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 82 381 ? - 25 323 ? Closest resistance levels 1.1248; 1.1264; 1.1283; 1.1314 Closest support levels 1.1183...

GBP/USD: will be there a new drop or not? 10/6/2016 On October 2nd Theresa May put foot at the podium, cleared her throat and sent a bunch of shockwaves through markets. The government will invoke Article 50 in March 2017! It resulted in the British pound breaking down rather significantly...

GBP/USD: bears going to test last low 10/6/2016 We’ve got a “V-Bottom” pattern, which led to the current consolidation on the four-hours chart. However, bears are likely going to reach a support at 1.2684, so we can have a new low in the short term. The last “Pennant” pattern helped bears...

EUR/USD: consolidation going to move on 10/6/2016 There’s a consolidation, which is taking place on the four-hours chart. Also, we’ve got a “Triangle” pattern, so the market is likely going to decline towards a support at 1.1181 – 1.1165. If a pullback from this area happens, there’ll be an...

USD/JPY: expected correction 10/6/2016 Technical levels: support – 103.20/30; resistance – 103.50/70 Trade recommendations: 1. Sell — 103.50; SL — 103.70; TP1 — 102.80; TP2 — 102.20. Reason: a bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen and there is a rising lines of...

AUD/USD: testing the SSB 10/6/2016 Technical levels: support – 0.7600; resistance – 0.7650, 0.7690. Trade recommendations: 1. Buy — 0.7610/20; SL — 0.7600; TP1 — 0.7690; TP2 — 0.7750. Reason: a new correctional dead cross of Tenkan-sen and Kijun-sen and rising Kijun-sen; a bullish Ichimoku...

USD/CAD: loonie is ready for changes 10/6/2016 On the USD/CAD daily chart, a breakout of resistance line at 1,323 will activate the AB = CD and the Crab patterns. Their targets are located in the zone of 1,355-1,357. To continue the rally, the "bulls" should consolidate their positions at the...

EUR/USD: euro decided to leave the triangle 10/6/2016 On the EUR/USD daily chart, "bears" tried to attack the diagonal support (the lower boundary of the descending trade channel) two times in a row, but failed to break it through. A breakout of resistance line at 1,127 will create...

For your info: major crude oil benchmarks and their properties 10/5/2016 From day to day you are hearing that oil price went in one or another direction, experienced a downfall or rose significantly. But, in fact, there is no universal oil price, because this energy source varies from one...

Forex trading plan for October 6 10/5/2016 USD US dollar was well-supported on better-than-expected economic data and hawkish comments from the Federal Reserve’s speakers. Richmond Fed President Jeffrey Lacker said that the central bank should tighten policy to stem a likely higher inflation...

Oil prices are rising, but how long it will last? 10/5/2016 Oil price rose towards the highest level since June, as market players are waiting for the fresh weekly information on U.S. stockpiles of crude and refined products. The report will be released by the Energy Information Administration...

EUR/USD: wave E on the way 10/5/2016 There’s a double zigzag in wave E of (Y), which is taking place on the four-hours chart. Yesterday wave [x] was formed, so we’ve got a pullback from 1/8 Murrey Math Level (P=200). Therefore, wave [y] of E is likely going to move on towards 6/8 MM Level...

USD/JPY: "Window" acted as a support 10/5/2016 It’s likely that we have a “Three Methods” pattern, so bulls are likely going to move on towards the upper “Window” in the short term. As we can see on the Daily chart, we haven’t got any reversal pattern so far. In this case, it’s likely to see...

EUR/USD: "Harami" points to local correction 10/5/2016 We’ve got a couple of bullish “Hammers” at the local lows. However, it’s likely to have a local bearish correction in the short term. If we see a pullback from the nearest support line, there’ll be an opportunity to have another upward...

Will ECB taper its QE or not? Let’s figure it out! 10/5/2016 Bloomberg must be tired of the long-lasting absence of front-page splashes and decided to turn everybody’s attention to itself. Yesterday it came up with an extraordinary report citing unnamed ECB officials who said that the ECB is...

EUR/GBP broke strong resistance level 0.8700 10/5/2016 EUR/GBP broke strong resistance level 0.8700 Next buy targets - 0.8900 and 0.9000 EUR/GBP has been rising steadily in the last few trading sessions inside the minor impulse wave (v) – which belongs to wave 3 from the start of September. The...

GBP/CHF broke support level 1.2490 10/5/2016 GBP/CHF broke support level 1.2490 Next sell target - 1.2200 GBP/CHF recently broke the support level 1.2490 (which stopped the previous impulse waves 3, (C) and (c), as can be seen from the daily GBP/CHF chart below). This support level is also the...

GBP/USD: two "Pennants" in a row 10/5/2016 The last upward trend has been broken, so the price is likely going to reach the nearest support at the downtrend line. If a pullback from this area happens, there’ll be an opportunity to have a bullish correction towards a resistance at...

EUR/USD: bulls going to reach resistance 10/5/2016 The price is moving up and down between the downtrend line and the support area’s upper side. Therefore, the market is likely going to reach a support at 1.1196 – 1.1181 in the short term. If a pullback from these levels happens, there’ll be...