riki143 Posted January 24, 2017 Share Posted January 24, 2017 Morning brief for January 24 1/24/2017 Trade was subdued overnight due to the scantiness of economic reports. Trump’s executive orders have added some fuel to the technical charts and have provided feedstock for news flow. EUR/USD hopped to 1.0755 after Mr. Trump formally withdrew from the Trans-Pacific Partnership. The newly elected US President promised to start the talks with Canadian prime minister Justin Trudeau and Mexican President Enrique Pena Nieto (the political leader of NAFTA member countries) as soon as possible. The talks of Trump’s protectionism favored safe-haven US Treasuries, gold, and the Japanese yen. Today’s focus will on the manufacturing data coming from the Eurozone. USD/JPY skidded below 112.80 not paying attention Trump’s policies of massive cuts in taxes and deregulations. Th pound peaked above 1.2510 against its US peer as the UK’s Supreme Court is expected that parliament should have a say in triggering Article 50. The decision will be delivered at 11:30 MT time. If the ruling is in line with market’s expectations, the GBP may gain some support as parliamentary involvement should delay disorderly Brexit (but not to stop it). Also, pay attention to the UK public sector net borrowing data. Aussie and kiwi both popped up on the weakening of the greenback. The former one managed to break 0.7575 resistance, another one made some modest gains having risen to 0.7235. The Canadian dollar is surprisingly showing some signs of rallying. USD/CAD slipped below 1.4330. Oil prices made a dip overnight as signs of the resurgence of the US drilling industry have become more evident. The OPEC and non-OPEC announcements of their results on meeting output reduction goals do little to support the oil. Brent oil futures are now around $55.48 from Monday’s $55.75. More: https://new.fxbazooka.com/analytics/12158 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 EUR/USD: "Double Top" stopped bullish rally 1/24/2017 We’ve got a “V-Top” pattern, which has been formed right under a resistance at 1.0745. So, the market is likely going to test the nearest support at 1.0719 – 1.0697 in the short term. If a pullback from this area happens, there’ll be an opportunity to have another upward price movement towards the resistance at 1.0795. The price is consolidating, but we’ve got a possible “Double Top” pattern. If it confirms, bears are likely going to reach a support at 1.0719 – 1.0710. Considering a possible pullback from this level, bulls will probably try to achieve a resistance at 1.0771 – 1.0795 later on. More: https://new.fxbazooka.com/analytics/12159 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 GBP/USD: downtrend has been broken 1/24/2017 The last downtrend has been broken, so the price faced a resistance at 1.2548. In this case, the pair is likely going to decline in the direction of the nearest support at 1.2468 – 1.2432. If we see a pullback from this area, there’ll be a chance to have a bullish price movement towards a resistance at 1.2548 – 1.2619. We’ve got a local “Double Top”, which has been confirmed. Therefore, bears are likely going to test the nearest support at 1.2468 – 1.2432 during the day. However, this area could be a departure point for another upward movement towards a resistance at 1.2548 – 1.2581. More: https://new.fxbazooka.com/analytics/12160 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 GBP/USD: pound reached daily resistance[/] 1/24/2017 Technical levels: support – 1.2420; resistance – 1.2530. Trade recommendations: 1. Buy — 1.2420; SL — 1.2400; TP1 — 1.2530; TP2 — 1.2580. Reason: bullish Ichimoku Cloud with narrowing diapason; a golden cross of Tenkan-sen and Kijun-sen; the prices are under pressure of the strong daily resistance (waiting for correction); support of Tenkan and Kijun. More: https://new.fxbazooka.com/analytics/12161 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 USD/JPY: Dollar supported by 112.60[/b} 1/24/2017 Technical levels: support – 112.60; resistance – 113.70. Trade recommendations: 1. Sell — 113.70; SL — 113.90; TP1 — 112.60; TP2 — 112.30. Reason: bearish Ichimoku Cloud; a new dead cross of Tenkan-sen and Kijun-sen; the prices are on the strong support (expected a correction) in a negative area. More: https://new.fxbazooka.com/analytics/12162 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 Key option levels for Tuesday, January 24th 1/24/2017 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 98 595 ? + 151 961 ? Closest resistance levels 1.0768; 1.0804; 1.0826; 1.0859 Closest support levels 1.0730; 1.0703; 1.0663(85?); 1.0609 Trading recommendations Baseline scenario Short EUR/USD below 1.0730, with target points at 1.0703 and 1.0663 Alternative scenario Moving above 1.0768 can be considered as a signal to Buy the pair, with target at 1.0804 and 1.0826 GBP/USD Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 288 ? - 39 ? Closest resistance levels 1.2516; 1.2537; 1.2572; 1.2611 Closest support levels 1.2449; 1.2428; 1.2403; 1.2374 Trading recommendations Baseline scenario Long GBP/USD above 1.2516, with target points at 1.2537 and 1.2572 Alternative scenario Moving below 1.2449 can be considered as a signal to Sell the pair, with target at 1.2428 and 1.2403 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 330 ? + 44 ? Closest resistance levels 1.3268; 1.3293; 1.3332; 1.3387 Closest support levels 1.3224; 1.3189; 1.3156; 1.3108 Trading recommendations Baseline scenario (High risk of reversal) Long USD/CAD above 1.3268, with the target points at 1.3293 and 1.3332 Alternative scenario Moving below 1.3224 can be considered as a signal to Sell the pair, with target at 1.3189 and 1.3156 More: https://new.fxbazooka.com/analytics/12163 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 Trump vs. China: a trade war ahead? 1/24/2017 Throughout the election campaign, Mr. Trump was threatening to get tough on China for its manipulation with yuan and unfair trade policy. And what a surprise! Instead of putting additional pressure on China’s People Republic, newly elected President gave it a gift having formally withdrawn from the Trans-Pacific partnership, a costly free trade agreement aiming at countering China’s increasing economic clout. So, has Trump changed his mind in relation to the US greatest trading partner? We would doubt it. The worst is yet to come. Mr. Trump will do his best to force the world’ biggest exporter to the negotiating table and win concessions for his beloved America. For this to happen he will need to officially slap China with a currency manipulator label. As of today, according to the US regulation, China is not a manipulator as its trade surplus is not in excess of $20 bln with the US; a current account surplus doesn’t exceed 3% of its GDP; China wasn’t taken red-handed on the persistent interventions in currency markets. So, Mr. Trump will have a stiff job to impose a comprehensive tariff on China’s imports. But what If Mr. President manages to put into effect his intentions? What would be China’s response? That’s a mug’s game! China would certainly push back against imposed trade restrictions and raise its tariffs against the US or restrict the purchase of the US goods and service. So, it is going to be a “lose-lose” game. According to the World Banks estimates, the US protectionist stance in relation to China can burden the outlook for the US economy. China won’t reap any benefits from the trade war with the US as well. In fact, China’s economic growth will slow down significantly. For the present moment, nobody knows how the US-China trade relationships will change. We will continue to monitor this issue as China’s influence on the global markets is crucial. More: https://new.fxbazooka.com/analytics/12164 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 Uncovering Gann indicators 1/24/2017 Have you ever heard about one of the most mysterious and successful traders of all times – William Gann? He is well-known for using geometry, astrology and ancient mathematic to predict the movement of quotes in the financial markets. He was brought up in an impoverished extended family. To earn crust he had to work on the farm, selling cigars and newspapers in the trains. From travelers, he knew about the investment, financial markets and great possibilities they can offer. Gann started wondering if it were possible to predict the future. Later on, he moved to New York and started working at a major Wall Street Brokerage house and attending business school at night. A compulsive idea of predicting the future has always been on his brain. So, he began studying the basic principles of price patterns and philosophy on how to accumulate the wealth, then, he proceeded with studying ancient geometry, astrology, mathematic. As a result, he managed to achieve his goal – he became a very successful trader, a real guru who managed to accumulate over 50 mln dollars and open his own brokerage firm. Trying to decipher the secret of his success, traders looked through his numerous writings and found some very efficient tools and trading techniques. In this article, we will tell you about so-called Gann indicators (line, angle, fan) that you can find on your trading platform. Why are the Gann indicators valuable? With their help, a trader can forecast support and resistance lines. Uncovering Gann angles and lines The primary Gann angles are the 1x2, the 1x1, and the 2x1. The 1x2 combination means that the angle is moving one unit of price for every 2 units of time. The same logic applies to other angles: the first number account for the one price interval, the subsequent one – for the unit of time. Trading on 1x1, a so-tooth Gann line (refers to the 45-degree angle) means that the market is balanced (the Gann line represents a long-term trend). If price crosses this balance line it means that the dominant trend is about to reverse. Building Gann line and Gann angle Choose “Insert-Lines-Trendline by angle” in the toolbar of your trading platform and plot the line for the 45-degree angle from the top or bottom. For the bullish trend, it looks it looks as follows, your balance 45-degree line serves as support (hint: after you plotted the line you should rotate it until you reach the degree you need – in your case it is 45°. Once you’ve got you’ve built your balanced “one-to-one” line you can lay up the Gann fan. Choose “Insert – Gann – Gann fan” and plot the fan in accordance with the Gann line you drew earlier. The middle line of the fan should correspond to the 45° Gann line. For bullish trend, it looks as follows, the rays of the Gann fan determine your support levels. More: https://new.fxbazooka.com/analytics/12166 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 Trading JPY: tips from banks 1/24/2017 Long-term projections Bank of America Merrill Lynch The bank is long on USD/JPY (buy 113.36, target 120.00, stop loss 110) Reasoning: The bank believes that USD/JPY should rise towards 120.00 by the end of the winter; buying at the current levels should yield profits in the future. The exchange rate of the currency pair managed to stabilize; it corresponds to the value of the US dollar taking account of the existent interest rate differentials and the situation at the US stock market; The seasonality factor will start to play out at the end of January and will influence the rate till April. In February, investors tend to reallocate their assets and invest them in shares, if they sure in the absence of risk. Despite numerous contradictions, we believe that economic and fiscal policies of Trump’s administration will push the US dollar higher in the end. We believe that the Bank of Japan will decide to continue its current stimulus program at the next meeting scheduled for January 31. In contrast, the Fed will be willing to raise its current interest rate further (the next hike could be in March). Citi: trading in the short-term The bank advices its clients to sell EUR/JPY this week (sell at 122.05 with a target at 119.60, place stop loss at 123.60). More: https://new.fxbazooka.com/analytics/12169 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 EUR/USD: bearish "Engulfing" 1/24/2017 We’ve got a “Harami”, which has been confirmed. Therefore, the price is likely going to test the 21 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity to have another upward price movement. There’s an “Engulfing” at the local high, which has been confirmed by the last “Three Methods” pattern. So, bears are likely going to test the nearest support during the day. However, if a pullback from this level be on the table, bulls will probably try to deliver an upward correction. More: https://new.fxbazooka.com/analytics/12170 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 USD/JPY: bears going to test the last low 1/24/2017 The price faced a support on the nearest “Window”, so we’ve got a “Piercing Line” on this level, which has been strongly confirmed. In this case, the market is likely going to test the 21 & 34 Moving Average in the short term. There’s an “Engulfing” at the local low. Considering a confirmation of this pattern, bears are likely going to test the nearest support, which could be a departure point for un upward price movement towards the 89 Moving Average. More: https://new.fxbazooka.com/analytics/12171 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 NZD/USD reached buy target 0.7230 1/24/2017 NZD/USD reached buy target 0.7230 Next buy target – 0.7400 NZD/USD continues to rise after the recent breakout of the resistance level 0.7230 (which reversed the pervious wave (ii) and which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.7230 is expected to accelerate the active minor ©-wave which belongs to the ABC correction 2 from the end of December. NZD/USD is expected to rise further toward the next buy target at the strong resistance level 0.7400 (which reversed the pervious intermediate ABC correction (2) at the start of November, as can be seen below). More: https://new.fxbazooka.com/analytics/12172 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 NZD/CAD approaching resistance level 0.9630 1/24/2017 NZD/CAD approaching resistance level 0.9630 Next buy target - 0.9800 NZD/CAD continues to rise after the recent breakout of the resistance level 0.9500 (which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.9500 accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of January. The pair is currently approaching the resistance level 0.9630 (which stopped the B-wave of the previous intermediate ABC correction (2) in November). If the price closes today above the resistance level 0.9630 - NZD/CAD can then be expected to rise further toward the next buy target at the next resistance level 0.9800. More: https://new.fxbazooka.com/analytics/12173 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 24, 2017 Share Posted January 24, 2017 EUR/USD: wave 2 ended 1/24/2017 The price hasn’t found a lodgement above 4/8 MM Level, so wave 2 could be ended. In this case, bears are likely going to deliver a downward impulse in wave . The main intraday target is 2/8 MM Level. As we can see on the one-hour chart, the price is moving up and down along 8/8 MM Level. Also, a bullish impulse in wave [c] of 2 has been ended. Therefore, the market is likely going to decline in wave (iii) of . More: https://new.fxbazooka.com/analytics/12174 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 USD/JPY: yen was stopped by the double bottom 1/25/2017 On the USD/JPY daily chart, a double bottom has been formed. The bears' attack was stopped and revealed the important support located at 112.5. A successful test of this support will lead to the continuation of the corrective movement towards 111.15 and 108.8. On the other hand, a breakout of the resistance at 114.05 will allow the bulls to take a rest. On the USD/JPY hourly chart, buyers are going to test the resistance at 114. If they succeed "Shark" inverted pattern with 88.6% and 113% targets will be activated. A necessary condition for this to happen is the need to go beyond the upper boundary of the downward trading channel. BUY 114,05 SL 113,5 TP1 115,1 TP2 115,65. More: https://new.fxbazooka.com/analytics/12178 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 Morning brief for January 25 1/25/2017 The main focus of the Asian session was Australian CPI. There was no sign of inflation moving towards cherished RBA’s target. The headline of the release fell out of the market’s expectation and sent Aussie lower towards circa 0.7540. EUR/USD skipped to 1.0725. The greenback experienced a rebound overnight as Mr. Trump shifted his focus from protectionist policies to growth initiatives including tax cuts, deregulation. In a meeting with the CEOs of major car producers, President called on them to build more cars persistently repeating his mantra of buy only American, hire Americans. In addition, Mr. Trump signed some executive orders aiming to advance the construction of the Keystone XL and Dakota Access. Environmentalists rave and storm bitterly lamenting the end of the term of nature-friendly Democratic administration. GBP/USD spiked to 1.2517 after the UK Supreme Court announced in its ruling that Parliament must vote to activate the Brexit mechanism. However, the triggering of Article 50 in March 2017 is still on the table as many parliamentarians have already come to terms with the fact that UK will no longer be a member of the EU and seem like to be ready to give the green light for the Brexit process. NZD/USD experienced some wobbles at the time of Australian data but changed only a little so far. At the present moment, prices are hovering around the 0.7235 level. We expect New Zealand inflation release later today (consensus forecast indicates a modest 0.1% increase in inflation rate). USD/CAD continues its downward movement towards the nearest support located at 0.3115 (near 200-day MA). Brent oil futures edged up to $55.30. Renewed sentiments over imminent Trump’s growth policies wiped out the recent gains of safe-haven assets (gold move lower to $1210.65). The US dollar rose against the yen to 113.55 having covered its short-term losses. More: https://new.fxbazooka.com/analytics/12179 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 EUR/USD: bearish "Flag" 1/25/2017 The price is consolidating under a resistance at 1.0795. Also, there’s a “Double Top” pattern, which has been confirmed. Therefore, the market is likely going to decline towards a support at 1.0697 – 1.0655. If a pullback from this area happens, there’ll be an opportunity to have an upward movement in the direction of a resistance at 1.0745 – 1.0774. We’ve got a “Double Top” pattern, which has been confirmed by the last “Flag” pattern, so bears are likely going to test the nearest resistance at 1.0697 – 1.0684. At the same time, this area could be a departure point for another bullish rally. More: https://new.fxbazooka.com/analytics/12180 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 GBP/USD: bulls going to move on 1/25/2017 The price faced a resistance at 1.2548, so bears are likely going to test a support at 1.2468 – 1.2432 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a bullish price movement towards the nearest resistance at 1.2548 – 1.2619. The pair is consolidating between the 34 Moving Average and the level 1.2548. In this case, the market is likely going to decline in the direction of the closest support at 1.2468 – 1.2432. Considering a possible pullback from these levels, we should keep an eye on the next resistance at 1.2548 – 1.2581 as a possible intraday target. More: https://new.fxbazooka.com/analytics/12181 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 Key option levels for Wednesday, January 25th 1/2/2017 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 36 381 ? + 69 650 ? Closest resistance levels 1.0743/46; 1.0765; 1.0780; 1.0803 Closest support levels 1.0714; 1.0690; 1.0654; 1.0604 Trading recommendations Baseline scenario Short EUR/USD below 1.0714, with target points at 1.0690 and 1.0654 Alternative scenario Moving above 1.0743 can be considered as a signal to Buy the pair, with target at 1.0765 and 1.0780 GBP/USD Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 230 ? + 157 ? Closest resistance levels 1.2531; 1.2561; 1.2598; 1.2623 Closest support levels 1.2490; 1.2462; 1.2442; 1.2417 Trading recommendations Baseline scenario Long GBP/USD above 1.2531, with target points at 1.2561 and 1.2598 Alternative scenario Moving below 1.2490 can be considered as a signal to Sell the pair, with target at 1.2462 and 1.2442 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 863 ? + 343 ? Closest resistance levels 1.3172; 1.3198; 1.3238; 1.3293 Closest support levels 1.3137; 1.3118; 1.3099; 1.3067 Trading recommendations Baseline scenario Long USD/CAD above 1.3172, with the target points at 1.3198 and 1.3238 Alternative scenario Moving below 1.3137 can be considered as a signal to Sell the pair, with target at 1.3118 and 1.3099 More: https://new.fxbazooka.com/analytics/12184 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 EUR/USD: euro need to going higher 1/25/2017 Technical levels: support – 1.0720; resistance – 1.0820. Trade recommendations: 1. Buy — 1.0740; SL — 1.0720; TP1 — 1.0820/30; TP2 – 1.0900. Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the prices are finished the correction to Tenkan-sen. More: https://new.fxbazooka.com/analytics/12186 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 USD/JPY: trading in range 1/25/2017 Technical levels: support – 113.30; resistance – 114.00, 114.40. Trade recommendations: 1. Buy — 113.70; SL — 113.50; TP1 — 114.40; TP2 — 115.20. Reason: bearish Ichimoku Cloud, but Senkou Span A is rising up; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are supported by Tenkan-sen in a range of Tenkan and Kijun. More: https://new.fxbazooka.com/analytics/12187 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 Financial market documentaries 1/25/2017 Such Hollywood masterpieces as “The Wolf of Wall Street”, “Big short” needn’t be advertised. Every amateur trader must have seen them at least once. In this article, we’ve decided to concentrate on the movies that offer educational rather than entertainment value. Underneath you will find the selection of documentary movies that deserves the attention of those who are always up to learn something new. The Ascent of Money: Boom and Bust It’s a complete six-part television documentary about the financial history of the world starting from the Babylonian times and ending with comprehensive introductory to the 2008 global financial crisis. Someone would say that watching this hours-long video it’s a complete waste of time, that traders don’t need a degree and knowledge of the history of money to be successful. And we won’t contradict this argument; gut feelings trump everything, but the knowledge of how the finance world operates is a supplementary tool in market’s analyses. It could be your secret MIND weapon if you like. And we don’t force you to watch the whole thing, perish the thought, no. Just take you time to watch the parts you’re most interested in. 25 Million Pounds It is a classic story of success of Nick Leeson, not very honest, but brilliant man. Nick started his career as Morgan Stanley clerk and ended up as a rogue trader who managed to bring down Barings, an old British bank due to his abilities to deceive and manipulate those around him. It’s also a story of those he deceived. They voluntarily entered into a dream Nick Leeson wove lured by the prospect of whaling sums of money and together they lost 830 mln pounds. Floored The movie captures the very essence of trading for living as it describes the life story of the old-school floor traders struggling to survive in the world of computerized markets. The age of technology has changed traders’ living, working habits, but not their penchant for making money. Floored is a gripping, honest and inspiring documentary describing the lives of professional traders: their worries, concerns, struggles, fears of the unknown. Wall Street Warriors It is a documentary series, not just a movie. So, don’t accidently hook on them. Each episode reveals us the details of various Wall Street entrepreneurs. A documentary allows its viewers to take a walk in the shoes of Wall Street pedestrians, to see the intense competition that reigns in the financial world of market gurus. Inside Job It’s probably the most comprehensive and informative documentaries on the 2008 housing and banking financial crisis. The film covers the US policy changes and banking practices that led to the outburst of the global financial crisis. The practical value of the movie: once you know how the crisis evolved and understand its causes, you will be able to recognize the early stages of subsequent crises and shield yourself from possible financial losses. Too big to fail It’s a film focusing on the actions of the US Treasury Secretary Henry Paulson prior to the 2008 financial meltdown. The US Treasury officials face with the need to bailout such gigantic financial institutions as Lehman Brothers and multinational insurance corporation AIG having recognized that their collapse may lead to the devastating crisis. The film seeks to justify the “too big to fail” theory necessitating the need for a bailout of big firms because of their great influence on the financial system. According to advocates of this theory, the too-big-to-fail firm needs to be provided with government support in times of the economic turbulences because the consequences of its collapse won’t outweigh the costs spent on its avoidance. More: https://new.fxbazooka.com/analytics/12188 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 Long-term USD/JPY forecast from Mr. Yen 1/25/2017 According to Eisuke Sakakibara, a former top currency official at Japan’s Finance Ministry, commonly known as Mr. Yen, JPY may strengthen significantly against its American peer and reach 100 yens per dollar mark by the end of this year. Sakakibara’s reasoning: It is unlikely that Mr. Trump manages to fulfill his pledge of 4% annual economic growth for the US. The most realistic growth rate for the US is 2 – 2.5%. As soon as uncertainty over Trump’s policies arises and the period of European elections starts, the demand for yen as for safe-haven currency will increase; The Trump’s administration will need a weaker dollar to shore up exports and employment (but weaker not too weak; if USD becomes too weak, the Fed’s will need to meddle in); It’s unlikely that the US economy will be robust enough to sustain multiple interest rate increases that were well priced in by the market participants; Japan is not allowed to intervene in the forex exchange market to offset the demand for yen without the consent of Group of Seven nations. Last time the BOJ intervened was in March 2011 after earthquake and tsunami, and that intervention was coordinated with other G7 members. More: https://new.fxbazooka.com/analytics/12189 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 EUR/USD: local "Hanging Man" 1/25/2017 We’ve got a bearish “Harami” pattern at the local high. Also, the middle of the last white candle is acting as a support, so there’s an “Engulfing” pattern. Therefore, bulls are likely going to test the last high in the short term. There’s a “Hanging Man”, but a confirmation of this pattern is a quite weak. In this case, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement. More: https://new.fxbazooka.com/analytics/12190 Quote Link to comment Share on other sites More sharing options...
riki143 Posted January 25, 2017 Share Posted January 25, 2017 USD/JPY: bears going to test "Window" 1/25/2017 The upper “Window” acted as a support once again, so we’ve got a “Piercing Line”. Also, the 13 Moving Average acted as a resistance. Considering the last “Harami” pattern, the pair is likely going to test the closest support in the coming hours. If a pullback from this level happens, there’ll be an opportunity to have another bullish price movement. There’re a “Doji” and a “Three Black Crows”, which both have been confirmed enough. Therefore, the market is likely going to achieve the nearest support, which could stop bears. More: https://new.fxbazooka.com/analytics/12191 Quote Link to comment Share on other sites More sharing options...
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