riki143 Posted March 2, 2017 Share Posted March 2, 2017 USD/JPY: yen looses its strength3/2/2017On the USD/JPY daily chart, bulls managed to push quotes beyond the descending trading channel. As a result, the chances of the uptrend recovery and implementation of the 88.6% target in the "Shark" inverted pattern have increased. But, first, buyers need to consolidate above the level of 114.03.On the USD/JPY hourly chart, the target 113% in the "Shark" inverted pattern has been fulfilled. After this the probability of rollback in the direction of 50% level of the CD wave and transformation of the pattern in 5-0 normally increases.Recommendations: BUY 113,55 SL 113 TP1 115 TP2 115,65, BUY 112,95 SL 112,4 TP 114,6. More:https://new.fxbazooka.com/analytics/12699 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 AUD/USD: aussie going to SSB3/2/2017Technical levels: support – 0.7640, 0.7600; resistance – 0.7700/20.Trade recommendations:1. Buy — 0.7640; SL — 0.7620; TP1 — 0.7700; TP2 — 0.7720.Reason: narrow bullish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; prices are on the support of Senkou Span B.More:https://new.fxbazooka.com/analytics/12700 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 USD/JPY: on the way to 3-W highs3/2/2017Technical levels: support – 113.190; resistance – 114.50.Trade recommendations:1. Buy — 113.90; SL — 113.70; TP1 — 114.50; TP2 — 115.00.Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen and the rising lines; the prices are supported by the Cloud.More:https://new.fxbazooka.com/analytics/12701 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 Morning brief for March 23/2/2017Another Fed officials repeated the proverbial mantras about their readiness to raise rates. This time there were New York Fed president Bill Dudley and FOMC member Lael Brainard speaking from the rostrum. Usually, Brainard tends to be more dovish on the rate decisions. In the early hours of this session, however, she started singing a tune of her predecessors having said that the US is almost ready for rate hike “soon” given improved global outlook and accelerating growth the US. Market-implied probabilities for a March rate hike shift from 50% to 80%. This may result in market's disappointment, if US payrolls report coming on March 10 shows that earnings growth is not starting to pick up. USD bulls will have to limit their appetites for a March hike. Additional drag/lift for the greenback can be offered by the US administration next week that should provide us with more comprehensive details on its tax plans.The US dollar has strengthened further (one would think, it has already risen to mush). The euro declined to 1.0530 in the absence of positive news from the Eurozone and Fed's officials working hard. Technically, 1.0500 is rather strong support. If it is broken, the euro will enter a bearish phase. Today’s focus will be on the Eurozone inflation data that should be released at 12:00 pm MT time.GBP/USD extended its losses having slid to 1.2275 in the Asian session. A bit disappointing manufacturing PMI added to political nerves that have already started pressuring the currency again as we are within a whisker of legal Brexit. Keep an eye on today’s construction PMI figures. If they come short of market’s expectations, the pair may be sent lower towards 1.2200.Australian trade balance data that was released earlier today was not in line with market’s expectations. AUD/USD slipped some additional points and fell below 0.7660. The economic calendar for this currency pair is rather light only US unemployment rate release coming at 15:30 MT time. The technical outlook for the pair shifted from bullish to the neutral one. The prices may shoot in any directions. The rebound from the present levels to 0.7700/0.7710 area could be followed by the retracement towards the previous supports at 0.7625/0.7605 levels.Kiwi has weakened further against the USD having slid to 0.7130. In the early hours of the session, the RBNZ Governor Wheeler were speaking, but the market’s reaction to his comments was subdued.USD/CAD spiked to 1.3345 overnight. The Bank of Canada maintained its interest rate target at 0.5%. Brent oil futures skidded to $56.15 from yesterday’s high at $57.05 having become an additional headwind for the loonie. Today you should focus on the Canadian GDP monthly update that should be released at 15:30 MT time.More:https://new.fxbazooka.com/analytics/12702 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 EUR/USD: support waiting for bears3/2/2017The last “Triple Top” pattern led to decline, so the price faced a support at 1.0520. Nevertheless, the market is likely continue falling down towards the next support at 1.0493. If any bullish pattern arrives later on, there’ll be an opportunity to have an upward correction.Bears found a support at 1.0520, so the price is testing the nearest Moving Averages. Also, there’s a “V-Top”, so the market is likely going to decline in the direction of the next support at 1.0493 during the day. If a pullback from this level happens, bulls will probably try to test a resistance at 1.0569 – 1.0578.More:https://new.fxbazooka.com/analytics/12703 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 GBP/USD: "Double Top" led to bearish rally3/2/2017The price faced a support at 1.2260. However, bears are likely going to continue pushing the market lower, so we should keep an eye on a support at 1.2231 – 1.2198 as a possible intraday target.There’s a consolidation, which is taking place on the one-hour chart. Meanwhile, bears are likely going to test the nearest support at 1.2231 – 1.2198 during the day. If a pullback from this area happens, there’ll be an opportunity to have a bullish correction towards the closest resistance at 1.2315 – 1.2347.More:https://new.fxbazooka.com/analytics/12704 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 Key option levels for Thursday, March 2nd3/2/2017GBP/USDMain trend Short-term period Medium-term periodNeutral BearishChanges in the open interest + 1 175 ? + 547 ?Closest resistance levels 1.2296; 1.2330; 1.2362; 1.2404Closest support levels 1.2280; 1.2254; 1.2227; 1.2188Trading recommendationsBaseline scenario (High risk of reversal) Long GBP/USD above 1.2296, with target points at 1.2330 and 1.2362Alternative scenario Moving below 1.2280 can be considered as a signal to Sell the pair, with target at 1.2254 and 1.2227AUD/USDMain trend Short-term period Medium-term periodBearish BearishChanges in the open interest + 242 ? + 1 317 ?Closest resistance levels 0.7672; 0.7713; 0.7753; 0.7801Closest support levels 0.7659; 0.7634; 0.7594; 0.7548Trading recommendationsBaseline scenario Short AUD/USD below 0.7659, with the target points at 0.7634 and 0.7594Alternative scenario Moving above 0.7672 can be considered as a signal to Buy the pair, with target at 0.7713 and 0.7753More:https://new.fxbazooka.com/analytics/12706 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 USD looks bullish... for now3/2/2017The market seems bullish on the US dollar as the expectations of the Fed’s rate hike increase. According to the CME Group FedWatch tool, the odds of the US rate hike on March 17 equal to 66.4%. According to other counts, the possibility is as high as 80%.Traders have started to believe that the US central bank will raise interest rates after hawkish comments from the FOMC members (William Dudley, John Williams, Lael Brainard). Although Donald Trump didn’t go into details in his speech to the Congress, he still emphasized his intentions to conduct spending and fiscal stimulus. For the time being this is enough to convince investors in a favorable background for the US economic growth. US 2-year Treasury yields rose yesterday above 1.30%, the highest level since August 2009.The recent American data were rather positive. ISM manufacturing PMI rose to two and a half year high in February. There’s potential for the market to price in the higher possibility of March rate hike. For that we need the “yes” from Janet Yellen this Friday (March 3) and for the US labor market figures on March 10 to be strong.Note, however, that the main strength of the US dollar can materialize before the Fed’s meeting. After that, the greenback may become vulnerable. Firstly, if the Fed doesn’t deliver a rate hike, markets, which have priced in the rate hike, will start selling the USD. Secondly, if there’s an actual rate hike, US stocks (currently at record highs) may slide. This, in turn, may negatively affect the USD. The US dollar index rose has managed to overcome the resistance of the 50-day MA (now acting as support at 101.22). Resistance is at 102.00 ahead of 102.80.Gold was rejected from $1260 because of stronger USD but managed to find support around $1240. Given political uncertainty in Europe, the asset still looks strategically attractive in the medium term.USD/JPY recovered from last week’s lows in 111.60 area. Resistance is at 114.65/80. Note that this month analysts expect heavy repatriation of Japanese funds from abroad to Japan. This will increase demand for the yen and curb the bullish potential of the pair.More:https://new.fxbazooka.com/analytics/12707 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 2, 2017 Share Posted March 2, 2017 Brexit: full-scale attack on Theresa May3/2/2017It is a really tough period of time for the UK PM Therese May working to the point of exhaustion to meet her Brexit deadlines. She has to ward off numerous attacks from different fronts and not to bend under her counterparts’ verbal strain.The recent battle in the UK Parliament is lostTheresa May has recently suffered her first parliamentary defeat on the amendment that protects the right of EU nationals to remain living in Britain once the country is no longer a member of the UK. Ms.May wanted all the EU citizens to leave the UK after Brexit. The UK parliament voted against her suggestion. Having said, that securing the legal status of European citizens working in the UK is a critical priority for businesses that can face with labor shortages.Scottish assaultTheresa May has to fight not only in the corridors of Brussels but also at home. Now, she is bracing up for rebuffing attacks of Scotland’s First Minister Nicola Sturgeon to call a second referendum on the independence of her homeland. That can coincide with the formal notification of leaving the EU. Sturgeon’s narrative is that Scotland may have no choice but to go its own way unless Ms. May softens her plan to leave the European Union and its single market. Most of the Scots voted to remain in the EU last June. The 2014 referendum on independence lacking a low number of votes to bring the UK-Scottish separation on the table. Many believe that this time, the Scots manage to reclaim their independence from the UK.European frontEarlier this year, the UK banking bigshots failed to obtain a special passporting regime that could allow 5,500 financial firms based in the UK to sell their services across the EU after the UK withdrawal from EU membership. Paris, Luxemburg, Germany, Dublin, Madrid are actively bidding to take business away from the UK financial capital – London. Many banks start realizing their relocation plans. And if that happens, the impact will be felt not only by the city itself as two-thirds of the country’s employees working in the financial sector are located outside the capital, and more than half of the 176 bln pounds that the financial industry contributes to the British economy comes not from London.The British pound dropped to its 6-week low in the course of the week as weaker-than-expected economic releases added to political nerves that have started to pressure on GBP in the countdown to triggering Article 50. It seems that it will extend its losses upon the actual EU-UK separation. But the main question is still open: when Ms. May will send the country’s request to leave the EU?Mind-boggling process of choosing the time for the Brexit summitThe timing for launching the UK’s negotiations with the EU is still undecided. Many British ministers voiced their displeasure of sending the divorce letter close to March 25, when EU leaders traditionally meet in Rome to celebrate 60 years when the bloc’s founding treaty was signed (Paris treaty 1957). Then, there will be Easter holidays in Europe followed by the French two-round presidential election on April 23 and May 7. That will certainly complicate any summit to be held later than April 7.Theresa May would probably gain royal assent on the start of Brexit as early as March 15. After the Scotts started discussing their referendum, UK prime minister might be willing not to invoke Article 50 until Scotland’s ruling nationalists finish a party conference on March 18 not allowing Nicola Sturgeon to press a case for the UK-Scotland separation on the basis of Scottish rejection of the Ms. May hard line in Brexit talks. More:https://new.fxbazooka.com/analytics/12708 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 EUR/USD: bulls beg for mercy3/3/2017On the EUR/USD daily chart, "bears" for the second time in the last two weeks faced with the important psychological level of 1.05. If it is tested, the target 88.6% in the AB = CD pattern will be implemented. The trend is still downward, so it makes sense to form shorts on pullbacks or breakouts of the support.On the EUR/USD hourly chart, the "bulls" can launch the counterattack from the 1.044 level. There is a target in the AB = CD pattern, and the Three Indians pattern. The nearest resistance levels are located near the 1.055 and 1.058 levels.Recommendations:SELL 1,055 SL 1,0605 TP1 1,044, TP2 1,038,SELL 1,058 SL 1,0635 TP1 1,044 TP2 1,038.More:https://new.fxbazooka.com/analytics/12716 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 USD/CAD: loonie was struck by the Wolfe wave3/3/2017On the USD/CAD daily chart, Wolfe waves signals worked well and brought profits on the previously formed longs. "Bulls" push quotes towards resistance at 1.357 (50% of the last long-term downward wave), and the upper boundary of the rising trading channel. While the pair is above 1.3306, buyers keep the situation under control.On the USD/CAD hourly chart, the realization of "Crab" inverted pattern continues. Its near-term target 127.2% is located near the 1.35 mark. Correction in the direction of 23.6% and 38.2% levels of the last upward wave can be used for the formation of longs.Recommendation: BUY 1,33 SL 1,3245 TP 1,35.More:https://new.fxbazooka.com/analytics/12717 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 EUR/USD: euro on the weekly support3/3/2017Technical levels: support – 1.0500; resistance – 1.0540.Trade recommendations:1. Sell — 1.0530; SL — 1.0550; TP1 — 1.0450; TP2 – 1.0410.Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; but the prices are on the support on a weekly timeframe.More:https://new.fxbazooka.com/analytics/12718 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 GBP/USD: pound going lower3/3/2017Technical levels: support – 1.2225; resistance – 1.2280, 1.2350.Trade recommendations:1. Sell — 1.2280; SL — 1.2300; TP1 — 1.2225; TP2 — 1.2100.Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are formed a new local lows of the month.More:https://new.fxbazooka.com/analytics/12719 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 Morning brief for March 33/3/2017The US dollar mushroomed up overnight as pricing expectation for a Mach hike have increased substantially. A chorus line of Fed’s senior officials singing throughout this week pushed the implied probability of the rate move this month to 74% from last week 30%. It seems that only next Friday’s US employment report can bring to a halt the Fed’s rate increase decision. Fed Chair Janet Yellen and Vice Stanley Fischer are both due to impress the market with their rich throaty voices at 8:00 pm MT time. FOMC members Evans and Powell will warm up the audience at 5:15 pm and 7:15 respectively.EUR/USD dropped to 1.0490 overnight. EU inflation jumped to 2% (the ECB’s target), core measure, however, was in line with market’s expectation. The ECB might not revise its ultra-loose monetary stance and inflation outlook after such data print attributing upticks in inflation rates to the surging oil prices. Today’s focus will be on the German retail sales and Fed officials’ speeches.USD/JPY slipped from its yesterday’s high at 114.58 to 114.05. We got Japan’s inflation data today There were some positive moments, but the figures were still very low.The Australian dollar was the major underperformer overnight. AUD/USD tumbled to 0.7540. There was a big miss on the Australian trade balance (a reminder of the damage that a strong Aussie may inflict to an economy heavily dependent on export). The nearest support is located at 0.7510 and it may not yield easily. The “break-down” support at 0.7605 now is acting as a rather strong resistance.The New Zealand dollar sold off sharply in sympathy with the Aussie. NZD/USD broke below multiple supports (50- and 200-day MAs located at 0.7150/0.7130). Now, it poised to test 70 cents area. The economic calendar for New Zealand is light for today. So, the greenback will be a bellwether in today’s sessions.Sterling held well against the USD, having slipped only a few points. The only piece of data from the UK was the construction PMI which was in line with expectations. GBP/USD slid to 1.2260 in the Asian session. The level of 1.2200 is next support now. If it’s broken (it might happen given the UK fundamentals and political uncertainty), the pound may fall to 1.1980 mark. More:https://new.fxbazooka.com/analytics/12720 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 EUR/USD: another "V-Bottom"3/3/2017The price faced a support at 1.0493, so we’ve got a “V-Bottom” pattern. Therefore, the market is likely going to test the nearest resistance at 1.0552 – 1.0578 in the short term. If a pullback from this area happens, there’ll be an opportunity to have a decline towards a support at 1.0493 – 1.0453.We’ve got a “Triple Bottom”, so bulls are likely going to test an area between the 34 Moving Average and the nearest resistance at 1.0545. If we see a pullback from this level, bears will probably try to test a support at 1.0481 – 1.0467.More:https://new.fxbazooka.com/analytics/12721 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 GBP/USD: "Thorn" pushes the market into correction3/3/2017Bears faced a support at 1.2260, so the price is consolidating. Also, there’s a “Thorn” pattern. In this case, the pair is likely going to test a resistance at 1.2277 – 1.2315, which could be a departure point for a decline towards a support at 1.2231 – 1.2198.The price is consolidating between the levels 1.2231 – 1.2315. Considering a “Thorn” pattern, bulls are likely going to reach the 34 Moving Average during the day. However, if we see a pullback from this line, there’ll be an opportunity to have a downward price movement towards a support at 1.2231 – 1.2198.More:https://new.fxbazooka.com/analytics/12722 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 AUD/USD: outlook for March 6-103/3/2017Results of the past week:AUD/USD stumbled to 0.7542 in the past week amid rising probabilities for an imminent Fed rate-hike and falling commodity prices. On Friday, Aussie edged up to 0.7560 thanks to the retracement of the US bond yields and a modest upsurge in the commodities. Market participants are now focused on the Fed official’s speeches, including the Fed’s Chair Yellen. A hawkish tone of the members might trigger an additional swing in the USD.Upcoming week:Next week will start with Australian retail sales and RBA cash rate announcement. The latest Reuters poll results revealed that all economist see the Reserve Bank of Australia holding its interest rate on hold. Since Wednesday, traders will shift their focus to the US economic releases. The major ones – average hourly earnings, unemployment rate and non-farm payrolls – are expected on Friday. In the beginning of the week, Aussie may extend its losses. Later on, it may gain strength, if US employment report falls short of market’s expectations.Technical picture:We expect the recent AUD/USD pull-back to extend lower towards the next supports located in 0.7520/0.7510 area. There is a crossover of 50-day and 200-day MAs, 38.2% and 50% Fibo retracement levels from the last month low (0.7518 and 0.7450 respectively). So, we believe that USD will have to put a great deal of effort to overcome these hurdles. In case of rebound from the aforementioned supports, the quotes may rise further towards the resistance level at 0.7605. If prices manage to test it, it will indicate that the current AUD weakness has vanished.AUD/USD outlook is bearish with possible rebound from 1.7510/1.7500 levels. An upside movement is limited by the resistance at 0.7600.More:https://new.fxbazooka.com/analytics/12724 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 GBP/USD: outlook for March 6-103/3/2017Results of the past week:Sterling has been on a roller coaster in the past week as prices broke down to 1.2230 on the broad strengthening of the USD and investors’ jitters over the looming Brexit. Economic data was a mixed bag with a miss on the UK manufacturing PMI, construction PMI being equal to expectations and weaker-than-expected services PMI. Scotland’s parliamentary debates about the second referendum on the country’s independence from the UK put additional pressure on the GBP.Upcoming events:Next week will be the last one before the Fed’s March meeting. The main focus will be on the US employment report coming on Friday. It should set the record straight whether there is a rate hike, or Fed stays on hold. Another focus – the UK economic data, namely, Halifax House Price Index, annual budget release, manufacturing production measure and good trade balance report.Technical picture:Trading signals are aligned bearishly across the trading desk which should limit upside scope for the pound to 1.2300/1.2350 area. In the short-term, GBP may extend its retracement towards 1.2200, 1.2120 (January 17 low), especially if the Fed speakers and the US labor market report favor a rate hike in the next meeting. The extent of the decline should be limited, though. Stochastic indicator on the H4 timeframe has been trading in the oversold territory for a long time. So, there is a building pressure for some relief. The pound may bow to this pressure, having risen to the nearest resistances at 1.2315, 1.2360.Our outlook for the Cable is bearish; the prices can slide towards 1.2200 support or lower. The restoration of the uptrend is possible only if quotes test the level of 1.2400 level.More:https://new.fxbazooka.com/analytics/12725 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 US dollar: outlook for March 6-103/3/2017Results of the past week: The US dollar broke above February highs and reached the highest levels since the beginning of January. The main bullish driver of the American currency was the increased expectations that the Federal Reserve would raise the interest rate on March 15. Many investors weren’t positioned for the possibility of the rate hike this month, and hawkish comments from the Fed members made them adjust their positions by buying USD. According to CME Group's FedWatch program, traders see almost 80% of a rate hike in March. Even “dovish” FOMC members said that rates should be raised “soon”. Not all American data are shiny, but consumer confidence and business sentiment rose to new highs. In addition, the US President Trump reiterated his campaign pledges before the Congress on lower taxes and higher spending – the market had a positive impression from his speech. Upcoming events: Whether the greenback can gain more in the coming days, depends on the speeches of Fed Chair Janet Yellen as well as Vice Chair Stanley Fischer on Friday evening. Plus, traders will get final hints from the US labor data due on Friday, March 10. Strong reading will confirm the upcoming rate hike. Apart from nonfarm payrolls, pay attention to average hourly earnings figures. Technical picture: Resistance for the US dollar index lies at 102.80 (78.6% Fibo of January decline). Support is at 101.65/50 and 100.95.Outlook: US dollar has certainly improved its positions. The currency has chances to strengthen ahead of the Fed’s meeting, although its ability to continue rising after the meeting is very questionable.More:https://new.fxbazooka.com/analytics/12726 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 3, 2017 Share Posted March 3, 2017 Beware of March 153/3/2017Don’t be too excited with Trump’s fiscal stimulus. According to David Stockman, a former businessman who served at the Office of Management and Budget under President Ronald Reagan, there would rather be “a fiscal bloodbath and a White house train wreck like never before in US history” than the substantial fiscal boost for the US economy. Why would he say like that?Because on March 15 the suspension of the US debt ceiling will be expired. It means that the Administration won’t be allowed to borrow money to cover its excessive expenses, because the government debt will be frozen. The Administration will be left with around $200 bln in cash. And with monthly expenses accounting for $75 billion, it will be left without cash. You can imagine what might happen next. The US will default on some of its debts. This will create chaos in the world markets and lead to the substantial interest rate increases. There will be no tax relieves for corporation and middle-class, no excessive expenses on infrastructure and defense promised by Mr. Trump.The suspension was part of the budget agreement signed by the former US President Obama and House speaker John Boehner. If Congress does nothing (and that is what probably will happen) – the Treasury Secretary Mnuchin will have to do something to prevent an imminent fiscal crisis. Mr. Mnuchin will probably have to start using special accounting measures to keep paying the country’s bills without violation of the borrowing limit. But as you understand, it cannot last endlessly, the time will eventually run out. According to the estimates of outside think-tanks, special accounting measures can be used until July, possibly a little longer. Then, the debt ceiling will be enacted. This something market participants and many policy-makers are missing, or just don’t want to mention publicly not to sow a panic in advance. More:https://new.fxbazooka.com/analytics/12727 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 6, 2017 Share Posted March 6, 2017 Key option levels for Monday, March 6th3/5/2017* Data about changes in the open interest will be available on Monday after 01:50 CT (Central Time) * UPDATEDEUR/USDMain trend Short-term period Medium-term periodBearish NeutralChanges in the open interest + 54 741 ? + 68 619 ?Closest resistance levels 1.0676; 1.0727; 1.0748; 1.0774Closest support levels 1.0617; 1.0586; 1.0556; 1.0538-17Trading recommendationsBaseline scenario (High risk of reversal) Short EUR/USD below 1.0617, with target points at 1.0586 and 1.0556Alternative scenario Moving above 1.0676 can be considered as a signal to Buy the pair, with target at 1.0727 and 1.0748 GBP/USDMain trend Short-term period Medium-term periodBullish BearishChanges in the open interest - 34 328 ? - 36 869 ?Closest resistance levels 1.2311(?); 1.2377; 1.2411; 1.2433; 1.2456Closest support levels 1.2280; 1.2259; 1.2226; 1.2205Trading recommendationsBaseline scenario Long GBP/USD above 1.2311, with target points at 1.2377 and 1.2411Alternative scenario Moving below 1.2280 can be considered as a signal to Sell the pair, with target at 1.2259 and 1.2226 USD/CADMain trend Short-term period Medium-term periodBullish BullishChanges in the open interest - 18 936 ? - 15 694 ?Closest resistance levels 1.3399; 1.3426; 1.3450; 1.3483Closest support levels 1.3355; 1.3312; 1.3280; 1.3238Trading recommendationsBaseline scenario Long USD/CAD above 1.3399, with the target points at 1.3426 and 1.3450Alternative scenario Moving below 1.3355 can be considered as a signal to Sell the pair, with target at 1.3312 and 1.3280 More:https://new.fxbazooka.com/analytics/12734 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 6, 2017 Share Posted March 6, 2017 GBP/USD: bears are heading the lead3/6/2017On the GBP/USD daily chart, implementation of the "Splash and ledge" allowed "bears" to create a downward trading channel. As long as the quotes are below the resistance at 1.2385, sellers maintain control over the pair. Targets 113% and 161.8% in the "Shark" and AB = CD patterns remain unfulfilled. A further move downwards is not ruled out.On the GBP/USD hourly chart, the next important level of support is located near 1.2265 level. A breakout of this level will lead to the restoration of the downtrend. In contrast, a rebound will lead to the formation of the "Head and shoulders" pattern.Recommendation: SELL 1,2265 SL 1,232 TP 1,215.More:https://new.fxbazooka.com/analytics/12736 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 6, 2017 Share Posted March 6, 2017 EUR/JPY: bulls hit an iron ceiling3/6/2017On the EUR/JPY daily chart, quotes returned to the lower boundary of the last trading channel 121.15-123.8. A break of resistance could lead to the implementation of the target 88.6% in the "Shark" inverted pattern, but the "bears" managed to maintain this important level.On the EUR/JPY hourly chart, a reversal of the downward trend happened due to the realization of the "Three Indian" and AB = CD patterns. At the present time, quotes came to the convergence zone at 120.9-121.1. The zone can be identified due to the target 161.8% in the "Butterfly" inverted pattern and historical levels. The nearest support is located at 120.45-120.5.Recommendation: SELL 120,45 SL 121 TP1 119,45 TP2 116,6.More:https://new.fxbazooka.com/analytics/12737 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 6, 2017 Share Posted March 6, 2017 EUR/USD: euro returned into Cloud3/6/2017Technical levels: support – 1.0570, 1.0520; resistance – 1.0620, 1.0650.Trade recommendations:1. Sell — 1.0600; SL — 1.0620; TP1 — 1.0520; TP2 – 1.0450.Reason: bearish Ichimoku Cloud, falling Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud under strong resistance of Senkou Span B.More:https://new.fxbazooka.com/analytics/12738 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 6, 2017 Share Posted March 6, 2017 GBP/USD: pound corrected into channel Tenkan-Kijun3/6/2017Technical levels: support – 1.2250; resistance – 1.2340, 1.2370.Trade recommendations:1. Sell — 1.2340; SL — 1.2360; TP1 — 1.2250; TP2 — 1.2220.Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are in a correctional phase and moves to channel Tenkan-Kijun; there is a strong resistance of Kijun-sen.More:https://new.fxbazooka.com/analytics/12739 Quote Link to comment Share on other sites More sharing options...
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