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USD/JPY is one step away from 100.00 8/3/2016 On the daily chart USD/JPY keeps moving towards the lower border of the bearish trend channel. It corresponds to 127.2% of the "Shark" pattern target (98.00). Target of AB=CD at 224% mentioned in the previous article is reached. Look for resistance...

EUR/USD keeps pushing higher 8/3/2016 On the daily chart one may see that the bulls managed to break resistance of 1.1175 and keep moving towards the 88.6% target of the "Bat" pattern (1.1370). Here's also the upper border of the rising trend channel. The level of 1.1175 is acting as support...

US Dollar & ADP Employment Change: A support for the greenback is coming? 8/3/2016 The greenback is still showing weakness across the board, as the recent US data had shown very negative numbers for the national economy's improvement on a quarterly basis and today at 12:30 GMT will be released...

NZD/USD continues strong uptrend 8/2/2016 NZD/USD continues strong uptrend Next buy target - 0.7300 NZD/USD continues to rise inside the minor impulse wave 3 – which stared earlier – when the pair revered up from the support zone lying between the round support level 0.7000, 0.6980 (previous...

USD/JPY reached sell target 102.00 8/2/2016 USD/JPY reached sell target 102.00 Next sell target – 100.00 USD/JPY continues to decline – following the earlier breakout of the support level 102.00, which was set in our earlier forecast as the likely downward target for this currency pair. The...

USD/JPY: "Gravestone Doji" as a sign of bulls weakness 8/2/2016 The market has been falling down since a “Shooting Star” formed at the last high. Moreover, we’ve got the second “Shooting Star” at the local maximum, but it hasn’t been confirmed yet. As we can see on the Daily chart, here isn’t...

EUR/USD: "Window" has been waiting for bulls 8/2/2016 There’s a bullish rally, which is taking place on the four-hour chart, so we haven’t got any reversal pattern. In this case, the market is likely going to reach the nearest “Window”, where some bearish pattern could be formed. As we can...

GBP/USD: the market get bogged down in a flat morass 8/2/2016 There’s a flat between the nearest resistance at 1.3289 and support at 1.3116. So, the price is likely going to reach the 89 Moving Average in the short term. However, if a pullback from this line arrives, then another downward...

EUR/USD: "Pennant" increasing bullish pressure 8/2/2016 There’s a consolidation, which is taking place on the four-hour chart. Also, we’ve got a “Flag” pattern, so the price is likely going to reach a resistance near the current downtrend. At the same time, if a pullback from the trend...

USD/JPY: correction to Tenkan[/] 8/2/2016 Technical levels: support – 102.10, 101.40, 100.80; resistance – 102.50, 102.90. Trade recommendations: 1. Sell — 102.80; SL — 103.00; TP1 — 102.00; TP2 — 101.40. Reason: dead cross of Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud, falling Senkou...

GBP/USD: pound holds above the cloud 8/2/2016 Technical levels: support – 1.3180; resistance – 1.3270, 1.3290. Trade recommendations: 1. Buy — 1.3180/90; SL — 1.3160; TP1 — 1.3270; TP2 — 1.3290. Reason: a bullish Cloud with growing range; golden cross of Tenkan-sen and Kijun-sen. More...

EUR/USD: euro is still overbought 8/2/2016 Technical levels: support – 1.1160, 1.1130; resistance – 1.1170, 1.1220. Trade recommendations: 1. Sell — 1.1220; SL — 1.1240; TP1 — 1.1080; TP2 – 1.1050. Reason: bullish Ichimoku Cloud; golden cross of Tenkan and Kijun, but there is still an...

Gold: will the bulls find strength to attack? 8/2/2016 On the daily XAU/USD chart there's sustainable uptrend. The trend counl continue in case of successful test of resistance at $1370 an ounce. Here's the target of the 161.8% AB=CD pattern. The area of $1305-1314 acts as support. The break of...

AUD/USD is feeling giddy 8/2/2016 On the daily AUD/USD the attempt of the bulls to restore the uptrend has failed. The pair formed a combination of "3 Indians" model and 1-2-3. This formation points at the high possibility of a reversal. The break of support at 0.7470 (38.2% Fibonacci of the...

EUR/USD: "Horizontal Triangle" points to coming wave v of (c) 8/2/2016 Wave 4 is likely going to end soon as a possible “Double Three” could finish its rally near 4/8 Murrey Math Level (P=200). So, if a pullback from this levels happens, there’ll be an open door for wave . The nearest bearish...

Key option levels: August 2 8/2/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 169 776 ↑ + 125 927 ↑ Closest resistance levels 1.1196; 1.1215; 1.1236; 1.1268 Closest support levels 1.1155; 1.1126; 1.1089...

GBP/USD & UK Construction PMI: Downside road before BoE's meeting? 8/2/2016 This week will be crucial for the Sterling, as the BoE will decide about interest rates and where the markets are expecting a possible rate cut on Thursday. However, before that key event, today at 08:30 GMT will be...

AUD/USD: outlook for August 1-7 8/1/2016 AUD/USD managed to recover the previous week’s losses. Aussie was driven higher mainly by the general weakness of the US dollar. The most important upcoming event for Australian dollar is the meeting of the Reserve bank of Australia on Tuesday...

USDJPY: outlook for August 1-7 8/1/2016 The Bank of Japan eased monetary policy On Friday. Still, the market got disappointed, because the regulator didn’t increase purchases of Japanese government bonds or take negative interest rates even lower. What the central bank did was double purchases...

GBP/USD: outlook for August 1-7 8/1/2016 Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed...