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EUR/USD: bulls going to break local high 10/3/2016 There’s a “Hammer” at the local low, which has been strongly confirmed. So, the price is likely going to get a support on the nearest Moving Averages. If a pullback from this lines happens, there’ll be an opportunity to have another upward...

Salvation plans for Deutsche Bank 10/3/2016 Shades lengthen over the Deutsche Bank as it struggles to settle the US Department of Justice’s probe into alleged mis-selling of mortgage securities. The fine threatens to undermine investor and client confidence in the biggest German lender. Here...

CAD/CHF reversed from support area 10/3/2016 CAD/CHF reversed from support area Next buy target - 0.7480 CAD/CHF recently corrected up sharply from the support area lying between the pivotal support level 1.7350 (which reversed the previous waves (iii) and (b)), lower daily Bollinger Band and...

USD/CAD reversed from powerful resistance zone 10/3/2016 USD/CAD reversed from powerful resistance zone Next sell target - 1.3000 USD/CAD has been under strong bearish pressure lately – following the earlier sharp downward reversal from the powerful resistance zone lying between the resistance...

Key option levels for Monday, October 3rd 10/3/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 2 652 ? + 4 021 ? Closest resistance levels 1.1279; 1.1296; 1.1334; 1.1367 Closest support levels 1.1243; 1.1216...

USD/JPY: trading in the Cloud 10/3/2016 Technical levels: support – 101.00/20; resistance – 101.70, 102.10. Trade recommendations: 1. Buy — 101.20; SL — 101.00; TP1 — 101.70; TP2 — 102.10. 2. Sell — 100.90; SL — 101.10; TP1 — 100.10; TP2 — 90.60. Reason: a bearish Ichimoku Cloud, SSB is...

AUD/USD: the Bulls still active 10/3/2016 Technical levels: support – 0.7640; resistance – 0.7660/70. Trade recommendations: 1. Buy — 0.7640/50; SL — 0.7620; TP1 — 0.7700; TP2 — 0.7750. Reason: a correctional dead cross of Tenkan-sen and Kijun-sen; a bullish Ichimoku Cloud; a strong support...

EUR/USD: the trades returned to the positive region 10/3/2016 Technical levels: support – 1.1220; resistance – 1.1240/50 Trade recommendations: 1. Sell — 1.1200; SL — 1.1220; TP1 — 1.1170; TP2 – 1.1130. 2. Buy — 1.1240; SL — 1.1220; TP1 — 1.1300; TP2 – 1.1330. Reason: a cancelled dead cross...

Morning Forex outlook 10/3/2016 Today, we will keep our eyes wide open not to miss the series of manufacturing releases from the Eurozone (no great changes are expected) and from the North American continent. A pinnacle event of the day is the FPC Meeting Minutes following the manufacturing...

GBP/USD: "Breakaway Gap" arrived 10/3/2016 The price faced a resistance at 1.3022 last week, which led to form “Breakaway Gap” this morning. However, there’s a local bullish “V-Bottom” pattern, so the pair is likely going to reach the nearest resistance at 1.2979 – 1.2995. If a pullback from...

EUR/USD: "Pennant" points to another upward movement 10/3/2016 The price is moving up and down on the four-hours chart. Bears faced a support at 1.1165, so the market is likely going to reach the nearest resistance near the downtrend line. If a pullback from this level happens, there’ll be an...

GBP/USD: bulls showed some slack 10/3/2016 On the GBP/USD daily chart, "bulls" failed to test the resistance line at 1,304, this resulted in a sell-out of the pound.The risks of the quotes pulling down to 1,28-1,285 area have increased. There are targets of the AB = CD and "Shark" patterns...

Gold: bears are not ready for attack 10/3/2016 On the daily chart of gold, as it was expected, the bears once again tested the lower bound of the consolidation area at $1305-1365 per ounce. If the "bears" in the coming days fail to break through support at $ 1307 (the lower bound of the upward...

GBP/USD & UK Manufacturing PMI: Sterling still looking for a catalyst 10/3/2016 We start a busy week today with the UK manufacturing PMI at 08:30 GMT, where the analysts are expecting a decline from 53.3 to 52.1. September's release was positive, with an improvement to 53.3 from 48.3, while the...

USD/JPY: outlook for October 3-7 9/30/2016 USD/JPY rose from 100.00 to 102.00, but remains limited on the upside by 2016 resistance line. Us dollar was driven higher against yen as Hillary Clinton’s victory at the first US presidential debate and OPEC deal to cut oil production initially...

GBP/USD: outlook for October 3-7 9/30/2016 GBP/USD remained within the range of the previous week between 1.3055 and 1.2915. The UK’s large current account deficit leaves the currency highly dependent on foreign exchange inflows. The pound is affected by Brexit woes as well as subdued investor...

EUR/USD: outlook for October 3-7 9/30/2016 The main source of negative impact on the euro this week were the worries about the future of Deutsche Bank. US Justice Department is demanding the bank to pay $14 billion fine to settle civil claims related to its dealings in mortgage-backed...

US dollar: outlook for October 3-7 9/30/2016 In line with our expectations decline of the US dollar after the Federal Reserve’s decision to keep rates unchanged in September was limited. US dollar index consolidated above 95.00 and even rose to 95.70 by the week’s end. US election race...

EUR/USD: bulls going to deliver wave [y] of E 9/30/2016 There’s wave E of (Y), which is taking form of a double zigzag. It’s likely that wave [x] of E is going to end soon. So, if we see a pullback from 2/8 Murrey Math Level (P=200), bulls are likely going to reach 6/8 MM Level in the short...

USD/CAD outlook for October 3-7 9/30/2016 This week Loonie grew in value due to the Iranian and Saudi decision to curb their insatiable appetites for profits. Two great oil producers have finally found the common ground and agreed for an output cap. But exhilaration ended at the end of the...