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EUR/USD Daily Analytics

07:30 12.01.2018

Technical levels: support – 1.2000; resistance – 1.2070.

 

Trade recommendations:

 

Buy — 1.2000; SL — 1.1980; TP1 — 1.2070; TP2 — 1.2130

Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines; the prices are breaking out SSA’s resistance.

 

1515742241-5974574d0f06c411e972e24d898d2

 

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USD/JPY Daily Analytics

07:32 12.01.2018

Technical levels: support – 111.00; resistance – 112.00.

 

Trade recommendations:

 

Buy — 111.20/30; SL — 111.00; TP1 — 112.00.

Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; but the market is oversold and placed on the strong daily support.

 

1515742242-3dcc4d3b0e9d38341d309e86e7227

 

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EUR/USD Daily Analytics

07:36 12.01.2018

Recommendation:

 

BUY 1.2125

 

SL 1.2070

 

TP1 1.2240 TP2 1.2280

 

On the daily chart, EUR/USD is resuming the uptrend. If resistance at 1.2090-1.2115 doesn’t stop the bulls, the odds of the rally’s continuation to 1.2240-1.2280 will significantly increase. The nearest support is near 1.1995. 

 

1515742487-8afba167b3e7c15d0d5d28d0f3c7b

 

On H1, EUR/USD may stop at the current levels, there may be a break towards 161.8% target of the “Crab” pattern and formation of the “Widening wedge”. Traders should be cautious.

 

1515742508-144c086f9efd0dd7367f2818eb875

 

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EUR/GBP Daily Analytics

08:03 12.01.2018

Recommendation:

 

SELL 0.8810 SL 0.8865 TP1 0.871 TP2 0.845

 

BUY 0.8925 SL 0.887 TP1 0.9015 TP2 0.907

 

On the daily chart, EUR/GBP keeps consolidating within “Spike and ledge” pattern. We will be able to speak about the uptrend’s resumption if the pair rises above resistance at 0.9015. On the other hand, a break of support at 0.8740 will increase of correction towards 200% target of AB=CD.

 

1515744026-bc1ce4ebdd72b71af2881b8edc2b5

 

On H1, EUR/GBP is making a retest in line with “Head and shoulders” pattern. We can’t exclude the possibility of a “Widening wedge”.

 

1515744141-311438cdc50bb0f634d8ee27e47a0

 

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THE WEEKLY REPORT: AUD/USD

10:02 12.01.2018

The Australian dollar is continuing to strengthen its position at the market. On Thursday 11 January 2018 it gained the highest level in three months. 

 

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There were several reasons for such growth. First of all, the US dollar weakness during the week supported the Australian dollar. The Us dollar fell on Wednesday after the news about the willingness of China to stop purchasing US treasuries. The US dollar depreciated against all main currencies.

 

Another important event is the report of Australia’s retail sales for November. The rise of total sales was the highest since January 2013. The news stabilized the current state of household finances.

 

However, on Friday the Australian dollar started to lose positions a little bit because of the data that China released about its trade in December. According to the data, import increased much less than it was expected: 4,5% against 13,0%. This data affected demand perspectives in China – the biggest trade Australian partner. Because of this news the price of Aussie started to fall.

 

Nevertheless, the fall was not too big and at the time of writing of this report the price started to rise again, it gave a reason to make a positive forecast about the future growth of the Australian currency.

 

What can affect the rate next week is data about an unemployment rate and consumer inflation expectations on Wednesday 17 January in Australia.

 

AUD/USD is trying to settle above the 200-week at 0.7850. A weekly close above this line, will strengthen positions of AUD buyers. Yet, looking on the daily chart we can’t say that there’s a strong bullish momentum: moving averages are horizontal. They will offer support for the pair at 0.7770 and 0.7700. The pair still has substantial resistance located at 0.7900 and 0.8000.

 

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EURUSD Daily Analytics

11:57 12.01.2018

 

1515758177-2aa86a60e299de4d8a08c2132db80

 

There's a "Triple Bottom" pattern, which has been confirmed, so we've got a new local high. The main intraday target is the next resistance at 1.2164. If a pullback from this level happens, there'll be a moment for a bearish correction towards the nearest support at 1.2129 - 1.2080.

 

1515758177-e14656e11d178d8af297bce5d3b6b

 

The price has been rising since a "Triple Bottom" formed. It's likely that bulls are going to test the closest resistance at 1.2164, which could be a departure point for a downward correction.

 

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GBP/USD Daily Analytics

12:02 12.01.2018

 

1515758178-ab6b42530141ec7e604b8b5f926a9

 

The main trend is still bullish, so the last high is likely going to be broken soon. The main intraday target is the next resistance at 1.3612 - 1.3656. If a pullback from these levels happens little later on, bears will probably try to test the closest support at 1.3569 - 1.3549.

 

1515758177-28fe31717e8232928cdbbf83b0c9a

 

All the Moving Averages have been broken, so the price is rising. It seems like bulls are going to reach the next resistance at 1.3612 - 1.3656 in the coming hours. However, if a pullback from this area is on the table, we could have a correction in the direction of the nearest support at 1.3584 - 1.3549.

 

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EURUSD Daily Analytics

12:05 12.01.2018

 

1515758669-a337ba1cdb5fa875a057958d1e02a

 

The 55 Moving Average has acted as support, so the last "Doji" and "Hammer" patterns led to the current upward price movement. There's no any reversal pattern, so the price is likely going to continue moving up.

 

1515758669-25ef2c3c9d7fae250ce793bed4a49

 

There's a "Three Methods" pattern, so the price is rising. However, we could have a correction in the coming hours towards the nearest support area, which is likely going to be a departure point for another upward price movement.

 

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USD/JPY Daily Analytics

12:08 12.01.2018

 

1515758669-956e1928ea1c1d3feb54c5ae4aa40

 

The price reached the "Window", but there isn't any reversal pattern so far. So, the price is likely going to continue moving down until any bullish pattern forms.

 

1515758669-a9f4eadca3bc2184ec57cdba24b47

 

We've got a bearish "Engulfing", which has been confirmed. In this case, the market is likely going to test the lower "Window" in the short term.

 

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BITCOIN (BTC/USD)

19:15 14.01.2018

Bitcoin continues to consolidate slightly above the psychological level of 13,000 since buyers remain active at the Fibonacci level of 23.6% at 12,852.85. This has allowed the bears to weaken in the current movement and the Parabolic SAR seems to be supporting the price action in the short term in favor of the bulls.

 

During the weekend, the Russian finance minister proposed that the cryptocurrency trading is legalized once and for all, due to the wide popularity that this activity has gained in the country. It is interesting to note that companies with international remittances such as MoneyGram are implementing the XRP in their internal pilot program systems.Now bulls and bears are locked in a battle to guide the path of the BTC / USD pair in the short term, although the long-term view is still bullish. We say this because of the fact that cryptocurrency has still not moved significantly away from the 200-hour moving average, which supports the bullish price action for the time being.

 

What do we expect?

 

Our forecasts in the short term continue to put Bitcoin in a bearish trend that can be strengthened with the break of 12,852. This could allow our hypothesis raised in days ago to be fulfilled and the pair will reach the Fibonacci target of -23.6% in 8507.14. The RSI remains in negative territory, although it is entering a neutral zone

 

1515957275-4d569cef72bb7acd467357c14ba15

 

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EUR/NZD

19:16 14.01.2018

EUR/NZD has been trading in a bearish tone since January 3rd session, but so far it’s consolidating above the 200 SMA, at which is currently finding sellers. The 65% Fibonacci level could act as a resistance that help to strengthen the downward path for the short-term. If that happens, the pair could be on its way to test the -23.6% Fibo zone at 1.6400.

 

RSI indicator is moving in the overbought territory.

 

1515957363-c876ab27ae85b67f4e154cf934bae

 

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EURUSD Daily Analytics

03:40 15.01.2018

 

1515987514-62bbfb3c9e08728858ca2cc43b454

 

The price went through an important resistance at 1.2080 - 1.2129, but bulls are likely going to test the next resistance at 1.2246. If a pullback from this level happens little later on, there'll be a moment to have a downward correction towards the nearest support at 1.2129 - 1.2080.

 

1515987514-19a254812556f6c4c81ff388ccc0a

 

Bulls faced with resistance at 1.2225, so there's time for a local bearish correction. The main intraday target is the closest support at 1.2164. This level could be a departure point for another upward price movement in the direction of the next resistance at 1.2225 - 1.2246.

 

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GBP/USD Daily Analytics

03:44 15.01.2018

 

1515987514-d69fcaf5bbcc48089fbbbf947af31

 

The main trend is still bullish. It's likely that the pair is going to test the next resistance at 1.3765 - 1.3834 in the short term. However, if a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction towards the nearest support at 1.3635.

 

1515987514-edcd3d3a6a7091f81b907fd3864ce

 

The pair faced with resistance at 1.3765, so bears are likely going to test the closest support at 1.3692 - 1.3656 in the coming hours. Meanwhile, if a pullback from this area happens afterwards, we could have another upward price movement in the direction of the next resistance at 1.3765 - 1.3834.

 

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GBP/USD Daily Analytics

07:54 15.01.2018

Technical levels: support – 1.3690; resistance – 1.3830, 1.3900.

 

Trade recommendations:

 

Sell — 1.3730; SL — 1.3750; TP1 — 1.3690.

Buy — 1.3690; SL — 1.3670; TP1 — 1.3830; TP2 — 1.3900.

Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising lines; the market is on new highs and overbought – expected a correction.

 

1516002842-5838ef800660551113de2aff99712

 

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USD/JPY Daily Analytics

07:55 15.01.2018

Technical levels: support – 110.40, 110.00; resistance – 111.00

 

Trade recommendations:

 

Sell — 111.00; SL — 111.20; TP1 — 110.40; TP2 — 110.00.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices reached new lows and the market is oversold.

 

1516002842-3dcc4d3b0e9d38341d309e86e7227

 

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NZD/USD Daily Analytics

08:38 15.01.2018

Recommendations:

 

BUY 0.7165 SL 0.711 TP1 0.7265 TP2 0.739

 

BUY 0.7090 SL 0.7025 TP1 0.7190 TP2 0.7265 TP3 0.7390

 

On the daily chart, NZD/USD bulls managed to get above resistance at 0.7250-0.7265. Never the less, the fight for this important level continues. If the pair reaches 113% target of the “Shark” pattern, bears will be able to counterattack.

 

1516005437-fb9be1d9d65d6402746f6573306cf

 

On H1, NZD/USD bulls keep controlling the situation. Sustainable uptrend allows traders to buy on the pullbacks to 23.6%, 38.2% and 50% ?of the wave CD of the “Shark” pattern

 

1516005451-3696dc2326705fd45dfa7b732beb8

 

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EURUSD ADaily Analytics

08:43 15.01.2018

 

1516005741-5e4d6696708668aec3aab3e519e69

 

The price has been rising since a triangle in wave 4 was formed. The main intraday target for wave 5 of © is 7/8 MM Level, which could be a departure point for a bearish correction.

 

1516005742-750cc1bbd85a5ba7f2b704a3b87a0

 

There's a developing upward impulse in wave 5. It's likely that wave [iii] is going to move on, so we should keep an eye on 5/8 MM Level as the next bullish target.

 

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USD/JPY Dalily Analytics

09:13 15.01.2018

 

1516007425-531386659d232c38de9941932c5a5

 

There's no any reversal pattern so far because all the last candles are bearish. In this case, the pair is likely going to test the lower "Window" in the short term.

 

1516007425-1f057137831e54d97d7dc11cf6b60

 

The last bearish "Three Methods" pattern pushed the price lower. Also, there's no any bullish model, so the market is going to continue declining in the coming hours.

 

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GBP/USD Daily Analytics

08:12 17.01.2018

Technical levels: support – 1.3680; resistance – 1.3830.

 

Trade recommendations:

 

Sell — 1.3760; SL — 1.3780; TP1 — 1.3690; TP2 — 1.3650.

Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

 

1516176733-5838ef800660551113de2aff99712

 

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AUD/USD Daily Analytics

08:13 17.01.2018

Technical levels: support – 0.7870; resistance – 0.8000

 

Trade recommendations:

 

Sell — 0.7940; SL — 0.7960; TP1 — 0.7870; TP2 — 0.7840.

Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and under the strong resistance of 0.8000.

 

1516176733-42a68b4bfa2f0515dfbaa054e9dba

 

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EURUSD Daily Analytics

12:59 17.01.2018

 

1516193908-942290cc2a2c28676e8bfdfeeff0c

 

The main trend is still bullish, however there's a "V-Top" pattern, so the market is likely going to test the nearest support at 1.2225 - 1.2164. If a pullback from this area happens little later on, there'll be an opportunity to have another upward price movement.

 

1516193908-f35eb27f334905199fbc88767e701

 

We've got a "V-Top", so there's a developing bearish correction. The main intraday target is the closest resistance at 1.2272 - 1.2296. This area could be a departure point for a decline in the direction of the 55 Moving Average.

 

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GBP/USD Daily Analytics

13:02 17.01.2018

 

1516193908-b9ddd4fff41489c45686d8f4d7548

 

Bulls faced with resistance at 1.3834, so there's a "V-Top" pattern. In this case, we should keep an eye on the closest support at 1.3730 as the next bearish target. If a pullback from this level happens, there'll be a moment to have a bullish price movement towards the nearest resistance at 1.3834 - 1.3913.

 

1516193908-dce666f59d6aec5001cd0d02b9e2f

 

The price is consolidating between the levels 1.3843 - 1.3765. The main intraday target is the next resistance at 1.3819 - 1.3834. Meanwhile, if a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.3730 - 1.3692.

 

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EURUSD Daily Analytics

13:05 17.01.2018

 

1516194235-62e0946bc536805427c8cc43900c4

 

There's a "High Wave" pattern, which has been formed at the last local high. If the 34 Moving Average acts as support, there'll be an opportunity to have another upward price movement.

 

1516194523-1555def3abae8277375bdc3ac00bc

 

The last "Shooting Star" led to the current decline. However, we could have a local upward correction in the coming hours. Nevertheless, the 89 Moving Average is likely going to act as support little later on.

 

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USD/JPY Daily analytics

13:07 17.01.2018

 

1516194235-72339e004868800d93c56e599be57

 

There's a bullish "Doji", which has been formed at the local low. So, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.

 

1516194235-60395f462b4b7ea2e27029d485873

 

We've got a "Doji" pattern on the 34 Moving Average. It's likely that the pair is going to reach the 89 MA soon. If a pullback from this line happens, bears will probably try to break the last low.

 

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EUR/JPY Daily Analytics

07:13 18.01.2018

Recommendation:

 

BUY 136.10

 

SL 135.55

 

TP1 137.10 TP2 138.00

 

On the daily chart, the initiative returned to bulls as EUR/JPY rebounded from the uptrend’s lower border. If the pair exits from the current short-term consolidation with the following renewal of January high, this will trigger the pattern AB=CD. Its 127.2% target is at 138.00.

 

1516259528-151f939c6df1fdb4a28b3d5785d89

 

On H1, EUR/JPY is in the sustainable uptrend. A break for the triangle’s upper border moved bulls to the next goal. A successful test of resistance 136.10 creates grounds for continuation to the north. 

 

1516259563-b35d7fb0c22de42ad09055593ba2f

 

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