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EUR/USD: outlook for August 1-7 8/1/2016 EUR/USD finished last week around July highs in the 1.1170 area. The wait-and-see position taken by the European Central Bank and the decline in expectations of the Federal Reserve’s rate hike supported the pair. Although the euro area’s economic...

US dollar: outlook for August 1-7 8/1/2016 US dollar posted a weekly decline. The dollar index, which measures the value of the greenback versus a basket of currencies, declined by 2%. Traders started selling American currency after the Federal Reserve’s meeting. The US central bank made it...

GBP/CHF falling inside the C-wave 8/1/2016 GBP/CHF falling inside the C-wave Next sell target - 1.2600 GBP/CHF continues to fall inside the C-wave of the intermediate ABC correction (2), which started earlier this month – when the pair reversed down from the resistance zone lying between the...

GBP/JPY reversed from resistance zone 8/1/2016 GBP/JPY falling inside minor impulse wave 5 Next sell target – 130.00 GBP/JPY has been falling in the last few trading sessions inside the minor impulse wave 5 – which started in June – when the pair reversed down from the resistance zone lying...

USD/JPY: "Window" acted as a support 8/1/2016 There’s a bullish “High Wave” at the local low, but it hasn’t been confirmed yet. So, it’s likely that the price is going to test the nearest resistance level once again. If we see a pullback from this resistance, there’ll be an opportunity to...

EUR/USD: "Shooting Star" calling bearish correction 8/1/2016 The price has found a lodgement under the 144 Moving Average, but we’ve got a “Hanging Man” and an “Engulfing”. However, a confirmation of both patterns is a quite weak. Therefore, the market is likely going to a local downward...

GBP/USD: consolidation going to move on 8/1/2016 We’ve got a consolidation between the nearest resistance at 1.3289 and support at 1.3116. So, the market is likely going to reach the 89 Moving Average in the short term. If a pullback from this line happens afterwards, the pair will probably...

EUR/USD: "Pennant" points to a new high 8/1/2016 The price has faced a resistance at 1.1186, so we’ve got a “V-Top” pattern here. Therefore, bulls are likely going to move on towards the next resistance near the main downtrend. However, if a pullback from this resistance happens later on...

USD/JPY: bears have won 8/1/2016 Technical levels: support – 101.40, 100.80; resistance – 102.50, 102.90. Trade recommendations: 1. Sell — 102.90; SL — 103.10; TP1 — 102.00; TP2 — 101.40. Reason: dead cross of Tenkan-sen and Kijun-sen; weak bullish Ichimoku Cloud, but falling Senkou Span A...

AUD/USD: across the resistance 8/1/2016 Technical levels: support – 0.7550, 0.7520; resistance – 0.7620. Trade recommendations: 1. Sell — 0.7620; SL — 0.7640; TP1 — 0.7550; TP2 — 0.7520. Reason: bearish Ichomoku Cloud, Senkou Span A is growing up; golden cross of Tenkan-sen and Kijun-sen; an...

EUR/USD: overbought euro 8/1/2016 Technical levels: support – 1.1130, 1.1080; resistance – 1.1170, 1.1220. Trade recommendations: 1. Sell — 1.1170; SL — 1.1190; TP1 — 1.1080. Reason: bullish Ichimoku Clou; golden cross of Tenkan and Kijun, but there is an overbought market. More...

EUR/USD: wave v of (c) is coming soon 8/1/2016 Wave 4 has been developing since the end of June, so it’s likely that a “Double Three” pattern is taking place. The main target is 4/8 Murrey Math Level (P=200). If a pullback from this resistance happens afterwards, there’ll be an opportunity to...

GBP/USD is forming a ledge 8/1/2016 On the daily chart GBP/USD keeps consolidating in the 1.3075-1.3494 area. The borders of this range correspond to 127.2% and 161.8% targets of the senior AB=CD pattern. The break of resistance at 1.3491-1.3494 activates junior AB=CD pattern. Its 224% target...

EUR/USD: bulls met an obstacle 8/1/2016 On the daily chart EUR/USD is testing the upper border of the 1.1-1.1175 consolidation range. Successful test of resistance will activete the "Bat" pattern. Its 88.6% target lies at 1.1370. It corresponds to the lower border of the long-term rising...

EUR/USD after poor US GDP Q2 figures: Weakness on the greenback for mid-term? 8/1/2016 A poor US GDP report released last Friday helped to add weakness on the greenback, following a 1.2% number, which is well-below the 2.6% expected for Q2. Also, FOMC minutes didn't give major hints in terms of...

Key option levels: August 1 7/31/2016 EUR/USD Main trend Short-term period Medium-term period Bullish Bearish Changes in the open interest + 26 992 ? - 84 630 ? Closest resistance levels 1.1210; 1.1230; 1.1250; 1.1277 Closest support levels 1.1152; 1.1121; 1.1084...

USD/JPY reversed from resistance zone 7/29/2016 USD/JPY reversed from resistance zone Next sell target - 102.00 USD/JPY continues to fall inside the intermediate impulse wave (3) - which started earlier – when the pair reversed down from the resistance zone lying between the resistance level...

USD/CHF under bearish pressure 7/29/2016 USD/CHF under bearish pressure Next sell target – 0.9700 USD/CHF recently reversed down sharply from the resistance zone lying between the resistance levels 0.9950 and 0.9900 (this resistance zone has been reversing the price from the end of May). This...

USD/JPY: plenty of bullish patterns 7/29/2016 There’s a “Harami” at the local low, but it hasn’t been confirmed yet. So, the market is likely going to get a resistance on the two nearest “Windows”, which could reverse the price movement into the direction of the local low. As we can see on...

EUR/USD: "Harami" prevented bearish correction 7/29/2016 Bulls have been moving up since a “Hammer” arrived at the local low. Also, we’ve got a bullish “Hammer”, which canceled a confirmation of the last “Hanging Man” pattern. Therefore, the market is likely going to test the 144 Moving...