riki143 Posted November 30, 2016 Share Posted November 30, 2016 EUR/USD: two wedges in a row 11/30/2016 We’ve got wave 2, which is taking place between the -2/8 and 0/8 Murrey Math Levels (P=200). The nearest intraday target for wave [c] is 0/8 MM Level. If we see a pullback from this line, there’ll be an opportunity to have another decline. There’s a wedge in wave [a], which set up the current upward correction. Also, we’ve got the smaller wedge in wave (i), bulls are likely going to deliver wave (iii) of [c] in the short term. So, we could have a new high soon. More: https://fxbazooka.com/analytics/11526 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 30, 2016 Share Posted November 30, 2016 CHF/JPY reversed from support level 110.00 11/30/2016 CHF/JPY reversed from support level 110.00 Next buy target – 112.30 CHF/JPY recently reversed up from the support zone surrounding the support level 110.00 (former resistance level from June). The upward reversal from this support level created the daily Japanese candlesticks reversal pattern Piercing Line – which signalled the continuation of the active minor impulse wave 3, which belongs to the sharp intermediate ©-wave from the middle of September. CHF/JPY is likely to rise further in the direction of the next buy target at the resistance level 112.30 (which reversed the price multiples times in May and June, as can be seen from the daily CHF/JPY char below). More: https://fxbazooka.com/analytics/11527 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 30, 2016 Share Posted November 30, 2016 CAD/JPY reversed from pivotal support level 83.00 11/30/2016 CAD/JPY reversed from pivotal support level 83.00 Next buy target - 86.00 CAD/JPY has been rising in the last few trading sessions – following the earlier upward reversal from the pivotal support level 83.00 (previous resistance level which reversed the earlier minor correction 4 in June, as can be seen from the daily CAD/JPY chart below). The upward reversal from the support level 83.00 created the daily Japanese candlesticks reversal pattern Long-Legged Doji. CAD/JPY is expected to rise further to the next buy target at the resistance level 86.00 (standing close to the 78.6% Fibonacci correction level of the earlier downward impulse from April). More: https://fxbazooka.com/analytics/11528 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/USD & US NFP November: will the number invalidate the recent bottom? 12/2/2016 Today at 12:30 GMT will be released the latest US NFP data of the year, as November’s number can help to fuel expectations on a Fed interest rate’s hike in the next meeting (December). Latest Nonfarm Payrolls showed that the US economy added 161,000 jobs in October and analysts expect an increase to 175,000. If we witness a better-than-expected scenario today, then a rate hike by Fed is a likely move to be done by the central bank at December’s meeting. Our technical view for EUR/USD at the daily chart is quite bearish, with a strong support located around 1.0547. With a very positive NFP’s November data we can expect a breakout lower of that zone, which should open the doors to test the 1.04 psychological area. However, if data comes in weak, it’s highly likely to see a rebound in the pair towards the 1.0740 level, which is our next key resistance across the board. More: https://fxbazooka.com/analytics/11546 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 Morning brief for December 2, 2016 12/2/2016 EUR/USD edged up 1.0687 in the course of the session putting it on track for 0.9% increase this week. The yield on German had the biggest jump in a year after it was reported by Reuters that the ECB will extend its bond purchases program beyond March at a meeting next week.Prolonging the ECB's QE was not unexpected, however, as European growth is still sluggish, but even a conventional gesture that QE would end is positive for the euro. There also might be a signal of the end of debt buying. Investors are bracing for Italy’s referendum and Austria’s presidential elections scheduled for December 4. Prepare for some significant moves in Monday’s session. Later today there will be Spanish Unemployment change that can bring some moves to the chart before the US NFP release. There were many toing and froing on the technical chart of USD/JPY on the recent session. The US dollar dropped earlier this morning from 114.10 to around 113.60, then recovered towards 114 level. Later today the US dollar may spike even above this level if we get upbeat US releases on the average hourly earnings, NFP, unemployment rate. News flow from Japan is non-existent. Be all eyes on the NFP! A reading close to the consensus forecast (177K) would signal steady hiring and a tangible step toward the Fed's goal of full employment. Any advancement in average hourly earnings will signal us about broader economic growth in the future. Aussie popped a little after a beat on October retail sales data. Such a relief for Australia after a run of disappointing figures this week that indicated a stall in the economic activity in the third quarters. The recently released retail sales can be deemed as a flash of hope for the revival of economic growth. Kiwi also added some points to the upside. Cable in the cross with USD jumped to its two-month high of 1.2695 yesterday as Brexit Secretary David Davis claimed that the UK would consider making a contribution to the EU to secure an access to the single market. Later today we will receive an update of the UK construction PMI. USD/CAD will be in focus today in the countdown to the bunch of the US releases and Canadian labor data. The currency pair slumped in the course of the session mainly on the soaring oil prices (trading around $53.30 mark). Rising US Treasury yields didn’t help the USD in the grapple with CAD overnight. More: https://fxbazooka.com/analytics/11547 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 AUD/USD: bears are going to attack 12/2/2016 On the AUD/USD daily chart, the expanding wedge pattern has been fulfilled. Rollback from 0.749 (38.2% Fibo from CD-wave) allowed opening short positions. At the present moment, there is a resistance near this mark. The "bearish" trend might continue. so, traders should prefer going short. On the AUD/USD hourly chart, the second shoulder of the "Head and shoulders" pattern has been formed. A breakout of the neckline near the 0.7375 level will open the way to the south. Expanding wedge and 5-0 patterns are still relevant. Recommendations: hold shorts formed from the level of 0,749, SELL 0,7375 SL 0,7435 TP 0,73 More: https://fxbazooka.com/analytics/11548 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/USD: will bulls find happiness in the north? 12/2/2016 On the EUR/USD daily chart, a break of resistance at 1.066 initiated a corrective movement towards the 1.077 level (78.6% Fibonacci from XA wave in "Crab" pattern) and higher. The outlook for this pair is still "bearish", so, pullbacks should be used for the opening of short positions. On the EUR/USD hourly chart, the "Shark" pattern is still relevant. It allows you to identify the important resistance level at 1.077. A rollback from this mark or from the 1.081-1.0815 range (38.2% Fibo from the last downward wave) will allow to form shorts. Recommendation: SELL 1,077 SL 1,0825 TP1 1,05 TP2 1,022, SELL 1,0815 SL 1,087 TP1 1,05 TP2 1,022. More: https://fxbazooka.com/analytics/11549 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 NFP forecasts from banks 12/2/2016 Consensus forecasts for non-farm payrolls change - 177K, for unemployment rate - 4.9%, for average hourly earnings - 0.2%. More: https://fxbazooka.com/analytics/11551 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/USD: price reached resistance 12/2/2016 The price is still consolidating under the Moving Averages. Also, there’s a “Flag” pattern, so the market is likely going to reach a resistance at 1.0745 – 1.0778 in the short term. If a pullback from these levels happens, bears will probably try to reach a support at 1.0665 – 1.0617. The local downtrend was broken, so the price is testing a resistance at 1.0684. If a pullback from this level arrives, the pair is likely going to achieve a support at 1.0665 – 1.0657. At the same time, there’s an opportunity to have another bullish movement afterwards. More: https://fxbazooka.com/analytics/11552 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 GBP/USD: bearish "Thorn" 12/2/2016 The price faced a resistance at 1.2672, so we’ve got a “Thorn” pattern here. In this case, the market is likely going to test the nearest support at 1.2556 – 1.2498 in the short term. If we see a pullback from this area, there’ll be an opportunity to have an upward movement towards a resistance at 1.2694 – 1.2770. We’ve got a “V-Top” pattern, so the price reached a support at 1.2556. However, bears are likely going to reach the 55 Moving Average soon. Considering a possible pullback from this line, bulls will probably try to catch a resistance at 1.2672 – 1.2694 later on. More: https://fxbazooka.com/analytics/11553 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 Key option levels for Friday, December 2nd 12/2/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 69 685 ? + 26 721 ? Closest resistance levels 1.0670; 1.0696/1.0709; 1.0745; 1.0793 Closest support levels 1.0645; 1.0622; 1.0597; 1.0560 Trading recommendations Baseline scenario Short EUR/USD below 1.0645, with target points at 1.0622 and 1.0597 Alternative scenario Moving above 1.0670 can be considered as a signal to Buy the pair, with target at 1.0696 and 1.0745 USD/JPY Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 69 685 ? + 26 721 ? Closest resistance levels 1.0670; 1.0696/1.0709; 1.0745; 1.0793 Closest support levels 1.0645; 1.0622; 1.0597; 1.0560 Trading recommendations Baseline scenario Short EUR/USD below 1.0645, with target points at 1.0622 and 1.0597 Alternative scenario Moving above 1.0670 can be considered as a signal to Buy the pair, with target at 1.0696 and 1.0745 USD/JPY Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 1 023 ? + 1 695 ? Closest resistance levels 114.08; 114.64; 114.89; 115.21 Closest support levels 113.55; 113.34; 113.07; 112.74 Trading recommendations Baseline scenario Short USD/JPY below 113.55, with the target points at 113.34 and 113.07 Alternative scenario Moving above 114.08 can be considered as a signal to Buy the pair, with target at 114.64 and 114.89 More: https://fxbazooka.com/analytics/11556 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/USD: bearish "Shooting Star" 12/2/2016 We’ve got an “Engulfing” at the local high, but this pattern hasn’t been confirmed yet. So, the price is likely going to test the 13 Moving Average in the short term. As we can see on the Daily chart, the price is testing the nearest resistance. If we see any bearish pattern, there’ll be an opportunity to have another decline. There’re an “Evening Star” and a “Three Black Crows”, which both have been confirmed enough. Therefore, the pair is likely going to achieve the 34 Moving Average shortly. If a pullback from this line be on the table, bulls will probably try to deliver an upward correction. More: https://fxbazooka.com/analytics/11557 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 USD/JPY: two "Harami" 12/2/2016 We’ve got a “High Wave” and a “Shooting Star”, which both have been confirmed. Therefore, bears are likely going to test the 13 Moving Average in the short term. As we can see on the Daily chart, here’s a “High Wave”, but this pattern doesn’t have a confirmation. So, we should keep an eye on the nearest “Window” as a possible intraday target. The price faced a support on the Moving Averages and we’ve got a “Hammer” and an “Engulfing”. In this case, it’s likely to see another test of the support area, which could bring any bullish pattern afterwards. More: https://fxbazooka.com/analytics/11559 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/USD: another bearish impulse started 12/2/2016 Wave 2 probably was ended yesterday in a form of a zigzag. So, there’s an opportunity to have another bearish impulse in wave 3. If – 2/8 Murrey Math Level (P=200) be broken, we will have a new levels indication. As we can see on the one-hour chart, there’s a finished impulse in wave [c] of 2. So, the price is declining in wave (i). In this case, we are likely going to see the price much lower in the short term. More: https://fxbazooka.com/analytics/11562 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/CHF reversed from strong resistance zone 12/2/2016 EUR/CHF reversed from strong resistance zone Next sell target - 1.0700 EUR/CHF continues to fall inside the minor (-wave, which started earlier – when the pair reversed down from the strong resistance zone lying between the pivotal resistance level 1.0800 (former powerful support level which has been reversing the price from July to October, as can be seen below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse from the start of September. The downward reversal from the aforementioned resistance zone created the strong Japanese candlesticks reversal pattern Shooting Star (which is also a Doji). EUR/CHF is likely to fall further to the next sell target at the support level 1.0700. More: https://fxbazooka.com/analytics/11563 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 EUR/CAD broke major support level 1.4270 12/2/2016 EUR/CAD broke major support level 1.4270 Next sell target – 1.4100 EUR/CAD has been under strong bearish pressure lately – after the pair broke through the major support level 1.4270 (which earlier reversed the price sharply in June, July and October, as can be seen from the daily EUR/CAD chart below). The breakout of the support level 1.4270 accelerated the active minor impulse wave 3 – which belongs to the intermediate downward impulse © from November. EUR/CAD is expected to fall further to the next sell target at the support level 1.4100. Sell stop-loss can be placed at half the daily ATR (Average True Range) above the aforementioned support level 1.4270. More: https://fxbazooka.com/analytics/11564 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 AUD/USD: outlook for December 5 -9, 2016 12/2/2016 AUD/USD slumped this week on the run of disappointing figures coming from Australia. We got a miss in the building approvals report followed by disappointing investment data. Upbeat Australian retail turnover and the Fed's employment report with soft wage growth helped Aussie to partially recover its losses and rise toward the level of 0.7470. Next week traders will focus on RBA cash rate coupled with Australian real GDP and trade balance data. Many strategists expect the Reserve bank of Australia to hold the cash rate at record low 1.5%. For the Australian GDP data, there is a great risk to the downside. From the US, we will get lots of statistical releases – non-manufacturing PMI, revised non-farm productivity, trade balance data, unemployment claims and preliminary consumer sentiment. If they are strong, the AUD/USD may slide lower. The fundamentals are pretty clear – there might be a great divergence between strong US data and the Australian weak data prompting the RBA to cut rates and undermining Aussie’s growth. The nearest supports for AUD/USD can be found at 0.7430 (50 H4 MA), 0.7346 and 0.7250. Any positive news flow from Australia or a sudden surge in commodity prices can send Aussie to the nearest resistances at 0.7460 (100 H4 MA), 0.7500 and 0.7565. More: https://fxbazooka.com/analytics/11561 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 2, 2016 Share Posted December 2, 2016 USD/JPY: outlook for December 5-9, 2016 12/2/2016 USD/JPY made a big swing this week having risen from 111.3 (Monday’s low) to 114.8 level. The US dollar was driven up by strong readings on the US ADP payroll report and Chicago PMI as well as the surging oil prices. On Friday, the US dollar slipped some points on the soft wage growth despite the strong NFP reading and the lowest unemployment rate in 9 months (it is the case when the quality of created jobs is more important than their actual quantity). Next week we won’t get lots of news flows from both countries. On Monday, traders will wait for US non-manufacturing PMI and FOMC members speaking. Also, we will be looking for the BoJ Governor Kuroda’s speech. On Tuesday, the US statistical services will publish reports on the hon-farm productivity, trade balance factory orders data. On Thursday, keep in focus Japan’s current account data and final GDP. Japan’s preliminary GDP showed that the nation’s economy grew 0.5% compared to the second quarter estimate. So, we may expect that the annualized data on the economic growth should offer some support to the yen. In the end of the week, we will receive Japan’s BSI manufacturing index followed by the US preliminary consumer sentiment data. Many currency strategists see risks of the US dollar pullback in the near-term given how quickly long positioning has built up. The prices may retrace towards the nearest supports located at 113.65 (the upper border of Ichimoku cloud on the H4 timeframe), 112.44 and 111. If key US economic releases continue to come in very strong, USD may move higher towards 114.60 and 115 levels. More: https://fxbazooka.com/analytics/11560 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 GBP/USD & UK Services PMI for November: Will the data help to feed bulls on the Pound? 12/5/2016 Today at 09:30 GMT will be released the UK Services PMI for November, which should see a little decrease from 54.5 to 54.0. Latest data from services PMI had been showing an overall positive performance, despite current UK situation after Brexit’s referendum. Since September, the number has been better-than-expected and November’s number should help to cap further gains in the Sterling against other currencies, but that could last in a short-term view. Our technical overview for GBP/USD at H4 chart is still showing an enough room to rise towards the 1.2867 level, which is our first and key resistance zone to pay attention to the upside. If the UK services PMI’s data comes in above the expectations, that bullish momentum could be fueled and make the pair to test the levels mentioned above, while a disappointing number can weigh on the GBP/USD pair and send it towards the 200 SMA around 1.2400. More: https://fxbazooka.com/analytics/11567 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 NZD/USD: kiwi decided to have a rest in the south 12/5/2016 On the NZD/USD daily chart, there is a test of the neckline of the "Head and shoulders" pattern. A short position was opened from the 0.7135 level. Given the current "bearish" potential of the pair, traders should consider holding the previously formed shorts. On the NZD/USD hourly chart, the signal given by senior 5-0, expanding wedge and "Shark" patterns . A breakout of the support at 0.704 will cause a continuation of the downward movement towards 0.697 and lower. Recommendations: hold short positions formed from the 0,7135 level, SELL 0,704 SL 0,7095 TP1 0,697 TP2 0,68. More: https://fxbazooka.com/analytics/11568 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 GBP/USD: pound is trying to define which way to go 12/5/2016 On the GBP/USD daily chart, there is a "bull - bear" battle for the 1.269 level. If the "bulls" manage to keep prices above it, the update of the December peak will open the way towards 1.29 resistance line. In contrast, the fall of the pair below 1.269 can lead to the rollback towards 1.2515. On the GBP/USD hourly chart, quotes are moving within the upward trading channel. A successful test of the 1,274 resistance line can cause a continuation of the rally towards 1.29 (161.8% target in the AB = CD pattern). The nearest support is located near the 1.257 mark. Recommendations: BUY 1,274 SL 1,2615 TP 1,29, SELL 1,257 SL 1,2625 TP1 1,245 TP2 1,2365. More: https://fxbazooka.com/analytics/11569 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 Morning brief for December 5, 2016 12/5/2016 EUR/USD slumped to the lowest level since March 2015 (1.0502) as Italian PM Matteo Renzi said he would resign following his defeat on constitutional reform. Exit polls showed 59% Italians had voted against Renzi’s plan to make the government more powerful. News flow from Austria was encouraging, as Austria’s far-right presidential candidate was soundly defeated by pro-European Alexander Van der Bellen. So, now we are facing a dilemma whether populist sentiment across the Europe manages to undermine the EU construction or not (Sunday’s election results showed the great division among Europeans – “No” vote in the Italian referendum and a win of the pro-European candidate in Austria). Anyways, this week, we don’t expect any significant upside moves from the euro on the back of the ECB’s intention to extend its asset-buying program. It seems that we have an addition to the club of the foolishly resigned PMs USD/JPY rose above 113.90 having been supported by expectations of the Fed’s interest rate increase this month. Keep in focus the US ISM non-manufacturing PMI and FOMC members speaking. NZD/USD is one of the biggest losers on the session. Kiwi dropped to circa 0.7090 after PM John Key unexpectedly announced his resignation and refusal to participate in the 2017 election. Then, it partially pared its losses rising above 0.7100 level. AUD/USD edged up to 0.7460 due to the strong reading on the Chinese service sector output. Australian data was smooth with the only drop in company’s operating profits. After OPEC agreed to cut production on Wednesday oil prices moved higher offering support to the RBA’s view that a reduced drag from the resources sector will cause Australian economy strength in the near-term future. GBP/USD is trading near the 1.2690 level. It skipped some points as Foreign Secretary Boris Johnson refused to endorse the proposal that Britain should consider paying the EU for having access to the single market. Today, traders will be watching for the UK services PMI which could offer some support to the pound if we get a strong reading. Starting today, the Supreme court will decide whether PM Theresa May needs to hold a vote in Parliament before formally notifying the EU. The government losing would delay the process of Brexit and should be positive for the British pound. More: https://fxbazooka.com/analytics/11570 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 Your volatility calendar for December 12/5/2016 Dec. 6, 05:30 GMT+2, RBA cash rate The Reserve Bank of Australia is due to announce its rate decision. Short-term interest rates affect the currency valuation. Traders will use this event to predict how exchange rate will change in the future. Wait for significant swings in currency pairs with AUD once the cash rate is out. Dec. 7, 17:00 GMT+2, BOC rate statement The Bank of Canada’s rate statement contains the commentary on the overall performance of the national economy and offers clues about future monetary policy decisions. Traders give importance to the statement as it affects the exchange rate of the Canadian dollar. Dec. 8, 14:45 GMT+2, ECB meeting The European Central Bank will decide whether it will continue its monetary stimulus program. Traders expect important announcements from the ECB president Mario Draghi, who will conduct a press conference following the meeting, at 15:30. The event is going to be a big driver of the euro. Dec. 13, 11:30 GMT+2, UK CPI CPI is a measure of consumer inflation. This is a very important indicator for the Bank of England: higher CPI growth makes the central bank less likely to ease monetary policy and is positive for the British pound. The release will bring volatility to GBP/USD and EUR/GBP. Dec. 14, 21:00 GMT+2, FOMC meeting The US Federal Reserve is expected to raise interest rates from the current levels around 0.50%. If the central bank disappoints the market, the USD is going to suffer. The Fed’s press conference at 21:30 will also be very important. The US dollar will likely stay volatile during these events in all currency pairs, especially in USD/JPY and EUR/USD. Dec. 15, 14:00 GMT+2, BOE meeting The Bank of England’s policy is a major driver of the British pound’s exchange rates. The central bank’s statement and meeting minutes will shape the market’s expectations about further actions of the regulator. The impact on GBP currency pairs is going to be sizeable. Dec. 19, 11:00 GMT+2, German Ifo business climate This is a composite index based on surveyed manufacturers, builders, wholesalers and retailers. As Germany is the leading economy of the euro area, its economic performance is very important for the dynamics of the euro. The publication should provide a good trading opportunity in EUR/USD and other pairs containing the single currency. Dec. 20, 02:30 GMT+2, Australian Mid-Year Economic and Fiscal Outlook Australian government will release an update of its economic and fiscal outlook. Increased government spending and mentions of the fiscal stimulus may lead to heightened inflation rates, so the publication will have an impact on the value of Australian dollar. Dec. 22, 15:30 GMT+2, US final GDP This is the third and final release of American Q3 GDP growth. So far, the data showed that the US economy is in good shape. A confirmation of that will be bullish for USD. On the contrary, if the reading is revised down, American currency will find itself under negative pressure. Watch this release as it will have an impact on USD currency pairs. Dec. 23, 15:30 GMT+2, US durable goods orders The change in the total value of new purchase orders placed with manufacturers for durable goods is a leading indicator of American production. This information will give market players an insight about the latest changes in the US economy. Do not miss this release if you trade USD! More: https://fxbazooka.com/analytics/11571 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 EUR/USD: bullish "Thorn" 12/5/2016 There's a “Breakaway Gap”, but the price faced a support at 1.0517, so we’ve got a “Thorn” pattern. Therefore, the market is likely going to test the nearest resistance area at 1.0594 – 1.0655. If a pullback from this area happens, there’ll be an opportunity to have an achievement of the next support at 1.0550 – 1.0517. The price has broken the Moving Averages. The nearest intraday target is a resistance at 1.0590 – 1.0655. If we have a pullback from this area, bears will probably try to reach a support at 1.0583. More: https://fxbazooka.com/analytics/11572 Quote Link to comment Share on other sites More sharing options...
riki143 Posted December 5, 2016 Share Posted December 5, 2016 GBP/USD: resistance waiting for bulls 12/5/2016 The price has been rising since a “Double Bottom” was formed. It’s likely that bulls are going to move on, so we should keep an eye on the nearest resistance at 1.2770 – 1.2795. Considering a possible pullback from this area, there’s an opportunity to have a bearish correction afterwards. We’ve got two “Thorns” on the one-hour chart. In this case, the market is likely going to reach the closest resistance at 1.2770 – 1.2795 in the short term. At the same time, if we see a pullback from these levels, the next intraday target will be a support at 1.2694 – 1.2672. More: https://fxbazooka.com/analytics/11573 Quote Link to comment Share on other sites More sharing options...
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