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AUD/USD: AUSSIE READY TO CONTINUE UPTREND

09:10 28.07.2017

 

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

 

Trade recommendations:

 

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.

Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are on the support of Tenkan-sen and Kijun-sen.

 

1501222204-42a68b4bfa2f0515dfbaa054e9dba

 

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USD/JPY: DOLLAR MAY GOING LOWER

09:11 28.07.2017

 

Technical levels: support – 110.70/80; resistance – 111.20.

 

Trade recommendations:

 

Sell — 111.00; SL — 111.20; TP1 — 110.45; TP2 — 109.80.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the prices are under Tenkan-sen and Kujin-sen and ready to go to new lows.

 

1501222204-3dcc4d3b0e9d38341d309e86e7227

 

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EUR/USD: "V-TOP" PATTERN

10:14 28.07.2017

 

1501225988-243495d8f5189bdbe168f26215727

 

We've got a "V-Top" pattern, so the price reached the nearest support at 1.1657. However, bears are likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement in the direction of the closest resistance at 1.1712 - 1.1757.

 

1501225988-6aa886364b6c0bbd639de51cab1ef

 

The price is consolidating near the 55 Moving Average. Also, there's a "Pennant" pattern, so the pair is likely going to decline in the direction of the 89 MA. If we have a pullback from this line, bulls will have a green light to achieve resistance at 1.1712 - 1.1757.

 

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GBP/USD: BEARISH "PENNANT" PATTERN

10:16 28.07.2017

 

1501225988-efb85c7c4048c30046400f1988cd4

 

Bulls faced resistance at 1.3137, so there's a "Double Top" pattern, which pushed the price to support at 1.3057. It's likely that bears are going to reach another support at 1.3029 in the short term. Meanwhile, if a pullback from this level arrives afterwards, there'll be an option to have an upward price movement in the direction of the nearest resistance at 1.3158 - 1.3184.

 

1501225988-6d7be275dd2cdde0a27d4195e6577

 

The price is consolidating above support at 1.3057. At the same time, there's a "Pennant" pattern, so the market is likely going to achieve the next support 1.3029 during the day. If a pullback from this level happens, we should keep an eye on the next resistance as an intraday target.

 

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EUR/USD: BEARS GOING TO MOVE ON

10:28 28.07.2017

 

1501226773-ee7928f63d6c917c4825a4875c7a5

 

We've got bearish patterns such a "Shooting Star", a "Three Black Crows" and an "Engulfing", which all have been confirmed enough. So, bears are likely going to continue pushing the price lower, which means we could have a new local low soon.

 

1501226773-8ae1a2f0e43f58c34c6e8f8297cae

 

There's a confirmed bullish "Harami" on the 55 Moving Average. Therefore, the price is likely going to test the nearest resistance level, which could be a departure point for another decline.

 

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USD/JPY: PRICE REACHED LOWER "WINDOW"

10:30 28.07.2017

 

1501226773-f6a1f6ea0b9e851a398ac4f92a205

 

The middle of the last black candle has acted as resistance, so we've got a "Shooting Star" pattern. However, we could have a local upward correction in the short term. Nevertheless, bears are likely going to deliver a new local low afterwards.

 

1501226773-bc32c62c7f9643a6fefadaa7ee88a

 

The price reached the lower "Window", but there isn't any reversal pattern so far. In this case, we could have just a local bullish correction. Anyway, it's likely that the market is going to continue declining until any bullish pattern forms.

 

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EUR/USD: EURO GATHERS STRENGTH

09:20 31.07.2017

 

Technical levels: support – 1.1700; resistance – 1.1830.

 

Trade recommendations:

 

Buy — 1.1700; SL — 1.1680; TP1 — 1.1780; TP2 – 1.1830.

Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen and Kijun-sen; the market is in consolidation on Tenkan-sen and Kijun-sen.

 

1501481992-5974574d0f06c411e972e24d898d2

 

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AUD/USD: BULLS TEMPORARILY QUIETED DOWN

09:21 31.07.2017

 

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

 

Trade recommendations:

 

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.

Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are on the support of Tenkan-sen and Kijun-sen and the Cloud.

 

1501481992-42a68b4bfa2f0515dfbaa054e9dba

 

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EUR/USD: CONFIRMED "TRIPE TOP"

09:49 31.07.2017

 

1501483638-703a6dc167a351c6ca9e8b9237018

 

Bulls faced resistance at 1.1757, so the price is consolidating. Therefore, we should keep an eye on the nearest support at 1.1679 as an intraday target. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1776 - 1.1801.

 

1501483638-9e50cfdc0c3ba71fea0bebfaa7a84

 

The price is consolidating under resistance at 1.1757. Also, there's a "Tripe Top" pattern, which has been confirmed. So, bears are likely going to test the 55 & 89 Moving Averages. Meanwhile, if we have a pullback from these lines, bulls will probably try to achieve another resistance at 1.1776 - 1.1801.

 

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GBP/USD: "V-TOP" PATTERN

09:51 31.07.2017

 

1501483638-5a01049a5a5063515e68ce895ea57

 

The price faced resistance at 1.3158, so we've got a "V-Top" pattern, which pushed the pair to support at 1.3116. In this case, bears are likely going to test the next support at 1.3083 during the day. If a pullback from this level happens, there'll be an option to have a new local high.

 

1501483638-368dc10cc8bd8e900a25dd7e75017

 

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GBP/USD: THE RISK OF REVERSAL

09:55 31.07.2017

Recommendations:

 

SELL 1.3060, SL 1.3115, TP 1.2950

 

BUY 1.3160, SL 1.3105, TP 1.3260 

 

On the daily chart, bears are trying to return GBP/USD inside the previous consolidation range of 1.2930-1.3120. If the pair comes down to its middle, the reversal “Spike and ledge” pattern will be formed. On the other hand, an increase to June high will make GBP/USD continue rising to 200% target of AB=CD pattern.

 

1501484106-7bbf95a209d207fae4f63ac496b4f

 

On H1, the Double Top in the area of the third Indian of the “Three Indians” pattern is a strong reversal sign. The break below support at 1.3060 and 1.3000 will lead to a correction. 

 

1501484124-2cf183d9aa99dd882e50bd88c66a5

 

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USD/CHF: FRANC IS RIDING THE WAVES

10:08 31.07.2017

 

Recommendation:

 

BUY 0.9720, SL 0.9665, TP1 0.9860, TP2 0.9890

 

On the daily chart, USD/CHF has reached the targets of “Wolfe waves” pattern. Thanks to it, the pair left the medium-term bearish channel. If the pair rises to July high, there may be a correction towards the upper border of the descending trend.

 

1501484744-a5903a7f3cf43bc4f33886526fd84

 

On H1, USD/CHF formed a “Dragon” pattern. At the moment, it’s forming the “Head of a dragon” or consolidating in the 0.9660-0.9720 area. The break of the upper border will increase the risks of a rally.

 

1501484801-351a015a31e5fdb2fee97b43bc66a

 

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EUR/USD: "ENGULFING" AND "TWEEZERS"

16:34 31.07.2017

 

1501507942-c222205cd12d767121b3ec9fbfdd5

 

There are bearish patterns such a "Shooting Star, an "Engulfing" and a "Tweezers". However, confirmation of these patterns isn't enough, so we could have just a local downwards correction. If a pullback from the nearest support happens, there'll be an opportunity to have another upward price movement.

 

1501507942-da54d663b9a6aa44308d379da8091

 

There's a "Hanging Man" at the last high, which has been confirmed enough. So, bears are likely going to test the 55 Moving Average, which could be a departure point for another bullish rally.

 

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USD/JPY: "HARAMI" PATTERN

16:38 31.07.2017

 

1501507942-43bd87843dc924d2ecbc3d823389a

 

We've got a "Harami" pattern, which just has been formed. Therefore, there's an opportunity to have a local upward correction, but bears will probably try to deliver a new local low afterwards.

 

1501507942-6836c0de2079f310b518519f1806a

 

There's a "Shooting Star", which has confirmation. In this case, the 34 Moving Average is likely going to act as support. If we see a pullback from this line, there'll be an opportunity to have another decline in the direction of the lower "Window".

 

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EUR/USD: BEARISH IMPULSE IN WAVE (I)

17:15 31.07.2017

 

1501510439-a636f7ff4067fdd1c0dc898de1636

 

The price is consolidating between the levels +1/8 & 8/8. If the pair fixates under 8/8 MM Level, there'll be an opportunity to have bearish wave [a]. In this case, we should keep an eye on 5/8 MM Level as an intraday target

 

1501510440-42d85a14e5e3807fa9d0982f67c6b

 

It's likely that there's a bearish impulse in wave (i). However, wave (ii) is a quite big, so this wave count will be unconfirmed until a downward impulse in the direction of wave (iii) arrives.

 

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GBP/USD: POUND IS UNDER MAIN RESISTANCE

08:26 01.08.2017

 

Technical levels: support – 1.3160; resistance – 1.3230.

 

Trade recommendations:

 

Sell — 1.3210; SL — 1.3230; TP1 — 1.3160; TP2 — 1.3110.

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

 

1501565207-5838ef800660551113de2aff99712

 

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USD/JPY: DOLLAR MADE NEW LOCAL LOWS

08:28 01.08.2017

 

Technical levels: support – 110.00; resistance – 110.50.

 

Trade recommendations:

 

Sell — 110.50; SL — 110.70; TP1 — 110.00; TP2 — 109.60.

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

 

1501565207-3dcc4d3b0e9d38341d309e86e7227

 

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USD/JPY: YEN GAINS POWER

09:46 01.08.2017

 

On the daily chart, bears managed to pull the pair below 110.50 (23.6% of the last descending wave) and settled below this level. Sellers retain control of the pair and pull the pair towards 200% target of AB=CD pattern. In order to counterattack, bulls need to return the pair above 110.50.

 

1501569965-3297c54597baddc0779dab87f7356

 

 

On H1, the situation looks desperate for buyers. The nearest support levels are close to 109.65, 109.01-109.15 and 108.70. They correspond to 127.2%, 161.8%, 200% and 224% of AB=CD pattern.

 

1501569983-1f50b4d918123f905c31c70a9dfda

 

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NZD/USD TOOK A BREAK

09:54 01.08.2017

 

Recommendation:

 

BUY 0.7525

 

SL 0.7470

 

TP1 0.7700, TP2 0.7900 

 

On the daily chart, NZD/USD reached 113% target of the inverted “Shark” pattern. This increases the risks of correction, but doesn’t cancel the long-term uptrend. Increase towards 0.7900 (161.8% target of AB=CD) will likely continue.

 

1501570388-fb9be1d9d65d6402746f6573306cf

 

On H1, NZD/USD formed a triangle and a “Spike and ledge” pattern on the basis of 1-2-3. If the pair quits the 0.7460-0.7525 range, the uptrend may resume or the pair may correct towards the lower border of the trading channel.

 

1501570406-3696dc2326705fd45dfa7b732beb8

 

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EUR/USD: "DOUBLE TOP" PATTERN

10:03 01.08.2017

 

1501570961-190d1b4e134d3b3d291c3172f376f

 

Bulls faced resistance at 1.1846, so the price is consolidating. Therefore, the market is likely going to reach the nearest support at 1.1776 in the short term. If we see a pullback from this level, there'll be an opportunity to have another upward price movement in the direction of the next resistance at 1.1875 - 1.1923.

 

1501570961-f0ca589c962970b2c3503be54df72

 

There's a "Double Top" pattern, so bears are likely going to achieve the closest support at 1.1801 - 1.1776. However, if a pullback from this area happens, bulls will have a green light to test the nearest resistance at 1.1846 - 1.1875.

 

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GBP/USD: CONFIRMED "THORN" PATTERN

10:06 01.08.2017

 

1501570961-0318711caaf38cbf70047e8d54b3d

 

The price found resistance at 1.3234, so we should keep an eye on the nearest support at 1.3158 as an intraday bearish target. If a pullback from this level arrived afterwards, there'll be an option to have another bullish rally towards the next resistance at 1.3277.

 

1501570961-7b0b0340a44bfaa9f40f01d818631

 

We've got a "Thorn" pattern, which has been confirmed. So, the pair is likely going to test the closest support at 1.3184 - 1.3175 during the day. Meanwhile, if a pullback from this area happens, bulls will probably try to reach another resistance at 1.3234 - 1.3277.

 

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EUR/USD: BEARISH "TWEEZERS"

16:52 01.08.2017

 

1501595487-7ef1fcf47b56396b62d5c3ceb433e

 

We've got a bearish "Tweezers", but this pattern hasn't been confirmed yet. So, we should keep an eye on the nearest support level, which could be a departure point for another upward price movement.

 

1501595487-1f8cd08eca457ddef7e37cbee3875

 

There are bearish patterns such an "Engulfing", a "High Wave" and a "Tweezers", which all have been confirmed. In this case, bears are likely going to test the 55 Moving Average in the short term.

 

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USD/JPY: BULLISH "HIGH WAVE"

16:54 01.08.2017

 

1501595487-b42868c97255ec21adc042dd7336b

 

There's a bullish "High Wave" at the last low. Considering confirmation of this pattern, there's an opportunity to have an upward price movement towards the 21 Moving Average. If a pullback from this line happens, we could have just another decline.

 

1501595487-b4ad44d7764389dd67395bff361f6

 

The lower "Window" has acted as support, so we've got a "Harami" pattern on this level. The main intraday target is the 34 Moving Average, which could be a departure point for a local correction at least.

 

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EUR/USD: "FLAG" PATTERN

10:53 02.08.2017

 

1501660367-a17f746dc4aef8a148a616dabfb3e

 

The price is consolidating between the levels 1.1846 - 1.1776. Also, there's a "Flag" pattern, so the market is likely going to test the nearest resistance at 1.1846 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1801.

 

1501660368-6dfabc87d5957f5876a8560c82f35

 

We've got a "Flag" right under resistance at 1.1846. It's likely that the price is going to test the lower side of this pattern. Anyway, bulls will probably try to test the next resistance at 1.1846 - 1.1875 afterwards.

 

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GBP/USD: BEARS GOING TO TEST NEAREST SUPPORT

10:55 02.08.2017

 

1501660367-98c7bb93e95f1f43e7fa64f97e9b8

 

There's a "Triple Top" at the last high. If this pattern confirms, bears are likely going to test the nearest support at 1.3158. Meanwhile, if a pullback from this level happens afterwards, there'll be an opportunity to have another upward price movement towards the next resistance at 1.3234 - 1.3277.

 

1501660367-7ba479cc42b3ed395f3f98a6c3eaa

 

The price is still consolidating. However, there's a "Triple Top" pattern, which has been confirmed, but bears faced support at 1.2184. So, we could have a local correction during the day. Nevertheless, we should keep an eye on the next support as an intraday bearish target.

 

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