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EUR/USD: PULLBACK FROM 0/8 MM LEVEL

12:47 29.09.2017

 

1506689195-48cecc89124a665a18da4704ba981

 

There's a pullback from 0/8 MM Level, so wave 4 may have been formed. The price is rising and it seems like wave is about to end. So, if 2/8 MM Level acts as resistance, we could have wave [ii].

 

1506689195-7a84ffba58c7e276a8b8b3256ae0c

 

We've got a developing bullish impulse, which could be wave . The main target for wave (v) is 2/8 MM Level, which could be a departure point for a local bearish correction.

 

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GOLD (XAU/USD) LOOKING TO MAKE A STRONG REBOUND

19:30 01.10.2017

 

Bears have been the headliners in the Gold’s price action across the board and according to the H4 chart, XAU/USD is expected to finish a correction started since three weeks ago. Between the 1280.95 and 1258.04 we’re expecting a demand zone to be found in order to gather momentum in favor of the bulls. If that happens, then we might expect a rally towards the -23.6% at 1393.38 level.

 

RSI indicator remains in the positive territory and invalidation zone for our outlook in the yellow metal is placed at the 1237.27 level.

 

1506886240-d5eb9b05cbcbc3f839b5c5fece960

 

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https://fbs.com/analytics/articles/gold-xau-usd-looking-to-make-a-strong-rebound-4090

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EUR/USD: EURO MAY RETURN TO CLOUD

06:49 02.10.2017

 

Technical levels: support – 1.1725, 1.1750; resistance – 1.1800, 1.1825.

 

Trade recommendations:

 

Buy — 1.1750; SL — 1.1730; TP1 — 1.1800; TP2 – 1.1825.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-se with rising Tenkan-sen; the market is on the support of the daily Cloud.

 

1506926950-5974574d0f06c411e972e24d898d2

 

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GBP/USD: POUND WILL TEST SSB’S SUPPORT

06:50 02.10.2017

 

Technical levels: support – 1.3280; resistance – 1. 3410.

 

Trade recommendations:

 

Buy — 1.3280; SL — 1.3260; TP1 — 1.3410; TP2 — 1.3460.

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

 

1506926950-5838ef800660551113de2aff99712

 

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NZD/USD: WILL KIWI RETURN TO BEARS?

06:59 02.10.2017

 

Recommendations:

 

BUY 0.7225 SL 0.728 TP1 0.728 TP2 0.737

 

SELL 0.7175 SL 0.7105 TP2 0.705

 

On the daily chart, the inability of bulls to hold the pair above the lower border of the bullish trend channel increases the risks of the pair’s advance to 127.2% target of AB=CD.

 

1506927496-fb9be1d9d65d6402746f6573306cf

 

On H1, NZD/USD formed a “Widening wedge” pattern within consolidation to the short-term downtrend. The pair’s return to 23.6% of the wave 4-5 will create grounds for a reversal. On the other hand, decline below 88.6% of the wave 4-5 will be a signal of the bearish trend resumption.

 

1506927509-3696dc2326705fd45dfa7b732beb8

 

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AUD/USD: BEARS MADE A STOP

07:05 02.10.2017

 

Recommendation:

 

SELL 0.781 SL 0.7865 TP 0.7725 TP2 0.761

 

BUY 0.786 SL 0.7805 TP1 0.7915 TP2 0.7935

 

On the daily chart, AUD/USD reached 88.6% target of the “Bat” pattern. This increases the odds of the pair’s growth. On the other hand, if the Aussie returns to September low the “Bat” will start transforming into “Crab” with the target at 161.8%.

 

1506927862-1db64c049cc9775b27418fd0e6b08

 

On H1, AUD/USD is consolidating within the short-term downtrend. A break of its lower border will allow bears to continue the decline. On the other hand, successful test of resistance at 0.7860 will be a signal for bulls to counterattack.

 

1506927875-ef00342837a633bda01cab6a3fe3e

 

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EUR/USD: BROKEN UPWARD "WEDGE"

07:50 02.10.2017

 

1506930552-a4648bd22c3ac52217ee04aaed0cb

 

There's a "V-Top" pattern, so the price reached the nearest support at 1.1772. In this case, the market is likely going to continue declining towards the next support at 1.1739 - 1.1714. If a pullback from this area happens, we could have an upward correction in the direction of the closest resistance at 1.1772 - 1.1793.

 

1506930552-be237c3731cd85251fe2393924288

 

We've got an upward "Wedge", which has been broken, so the price is declining. Therefore, we should keep an eye on the nearest support at 1.1739 - 1.1714 as an intraday target. However, we have a pullback from these levels, there'll be an opportunity to see a bullish price movement towards the closest resistance at 1.1772 - 1.1793.

 

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GBP/USD: MOVING AVERAGES ACTED AS RESISTANCE

07:52 02.10.2017

 

1506930551-ccac85e59d219f0b990c82c123c08

 

The price is consolidating in a range of the developing "Wedge". So, the upper side of this pattern is likely going to be broken soon. The main intraday target is the nearest resistance at 1.3479 - 1.3533, which could be a departure point for another decline.

 

1506930551-456bf34c492cfab89d5cfd70952c4

 

The Moving Averages have acted as resistance, so the price is declining. Meanwhile, if we see a pullback from the nearest support at 1.3328, bulls are likely going to break the local uptrend. If so, the price could achieve the closest resistance at 1.3404 - 1.3444.

 

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EUR/USD: PULLBACK FROM 0/8 MM LEVEL

08:22 02.10.2017

 

1506932477-6f20fb53ce863ebb9fd2058eee4f4

 

Wave 4 has been finished, cause there's a pullback from 0/8 MM Level. Also, there's an upward impulse in wave , so we've got developing wave [ii], which is about to end. In this case, we're likely going to have another upward impulse in wave [iii] of 5 soon.

 

1506932477-2e57faeb9ce8515f188f36b724143

 

There's a local decline, which could be wave [ii]. However, this bullish wave count will be unconfirmed until a bullish impulse in wave (i) arrives.

 

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EUR/USD: "SHOOTING STAR" AT THE LOCAL HIGH

11:56 02.10.2017

 

1506945364-066febb8260995a80ad51b17d701a

 

There's a "Shooting Star", which has been formed at the last local high. This pattern has been confirmed, so the pair is likely going to decline towards the nearest support level.

 

1506945364-6d497dc5f68df7567c207621d9484

 

The last bearish "Three Methods" pattern led to the current decline. Also, there isn't any reversal pattern so far. In this case, the market is likely going to continue moving down during the day.

 

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USD/JPY: "HAMMER" ON 34 MOVING AVERAGE

11:58 02.10.2017

 

1506945364-e111318bbc75c8c4229f5d1b23c13

 

The 34 Moving Average has acted as support, so we've got a "Hammer" in this line. Therefore, bulls are likely going to test the upper "Window" in the short term. If a pullback from this level happens later on, we could have a downward correction.

 

1506945364-e36e1000f599a3429de9b9620132d

 

There's a bearish "Engulfing", which has been formed at the last local high. So, there's an opportunity to have a downward correction in the coming hours. If a pullback from the 55 Moving Average arrives afterwards, bulls will probably try to deliver another upward price movement.

 

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XAU/USD: BEARS ARE ATTACKING

06:53 03.10.2017

 

Recommendation:

 

BUY $1254

 

SL $1240

 

TP1 $1281 TP2 $1300 TP2 $1315 

 

On the daily chart, XAU/USD went to an important support at $1267.6 an ounce. If bears manage to conquer it, risks of continuation towards the lower border of uptrend channel will significantly increase. On the other hand, recoil to the downside will allow consolidation in the $1265-1315 range.

 

1507013601-20c6ebb86722ac92f8a505b7903a9

 

On H1, XAU/USD is heading towards $1254. Near it there’s a lower border of the downtrend channel, 224% target of AB=CD and historic support. This increases the risks of a pullback.

 

1507013615-e12a637cc937326a9c7981d6dfc46

 

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USD/CAD: LOONIE IS BREAKING THE TREND

07:38 03.10.2017

 

Recommendation:

 

BUY 1.2595

 

SL 1.254

 

TP1 1.2715 TP2 1.292 TP3 1.325

 

On the daily chart, USD/CAD bulls managed to overcome resistance at 1.2462. If they manage to conquer 1.2717 with ease, the odds of triggering the “Shark” patter will significantly increase. Its 88.6% target corresponds to 1.3250.

 

1507016259-1430b06b52ccdf0a9e951da313446

 

On H1, increase above resistance at 1.2533 will open the way to 1.2595 (88.6% of the last descending wave + 161.8% target of AB=CD). A successful test of this level will allow bulls to continue the rally.

 

1507016288-c19703868bbc85441b3abba113bcb

 

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GBP/USD: POUND BOUNCED FROM SSB’S

07:38 03.10.2017

 

Technical levels: support – 1.3250/80; resistance – 1.3340, 1. 3410.

 

Trade recommendations:

 

Buy — 1.3270; SL — 1.3250; TP1 — 1.3340; TP2 — 1.3410.

Reason: narrowing bullish Ichimoku Cloud, but rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with the horizontal Tenkan-sen and  Kijun-sen; the prices are reached the SSB’s support and bounced inside Cloud.

 

1507016327-5838ef800660551113de2aff99712

 

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AUD/USD: AUSSIE MAY RETURN TO CLOUD

07:39 03.10.2017

 

Technical levels: support – 0.7800; resistance – 0.7880, 0.7900.

 

Trade recommendations:

 

Buy — 0.7820; SL — 0.7800; TP1 — 0.7880; TP2 — 0.7900.

Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are on the strong support on the daily timeframe.

 

1507016327-42a68b4bfa2f0515dfbaa054e9dba

 

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EUR/USD: CONFIRMED "DOUBLE BOTTOM"

12:10 03.10.2017

 

1507032552-07485d8a7f5ea623ed458ad7fdf3c

 

Bears faced with support at 1.1688, so we've got a "V-Bottom". In this case, the market is likely going to reach the nearest resistance at 1.1772 - 1.1793 in the coming hours. If a pullback from this area happens, we could have a decline towards the closest support at 1.1688 - 1.1661.

 

1507032552-8503571a8c9edc63c29edc6a3e3d9

 

There's a "Double Bottom", which has been confirmed, so the price is likely going to reach the nearest resistance at 1.1772 - 1.1793 in the coming hours. If we see a pullback from these levels, there'll be an opportunity to have a downward price movement towards another support at 1.1688 - 1.1661.

 

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GBP/USD: "V-BOTTOM" PATTERN

12:12 03.10.2017

 

1507032552-f30f43a47b8a41cacd3b26aabca13

 

We've got a "V-Bottom", so there's an opportunity to have a local bullish correction. Meanwhile, bears are likely going to test the next support at 1.3182 - 1.3150 afterwards. If we have a pullback from this area, bulls will probably try to deliver an upward price movement.

 

1507032552-269afc4002b0ec18d5e14b4ec8b3d

 

There's a "Double Bottom", which has been confirmed. So, the main intraday target is the nearest resistance at 1.3328. However, if a pullback from this level happens, we could have another decline.

 

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EUR/USD: BULLISH "ENGULFING"

12:25 03.10.2017

 

1507033464-bc32be03685e832e7d1dd632c64a6

 

There's a bullish "Engulfing", which has been formed at the last local low. Considering confirmation of this pattern, the market is likely going to test the Moving Averages. If a pullback from these lines happens, we could have another decline.

 

1507033465-e8950dbb89c19816527d85a23b5e6

 

We've got a "Tower" and a "Doji", so the 34 Moving Average is likely going to act as resistance. So, there's an opportunity to have a local correction if a pullback from this line happens in the coming hours.

 

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USD/JPY: "WINDOW" ACTING AS SUPPORT

12:27 03.10.2017

 

1507033465-955325a306ba57159486663f5faca

 

The nearest "Window" is acting as support, which is likely going to be tested once again in the short term. If we have another pullback from the "Window", bulls will probably try to deliver a new local high.

 

1507033464-21c912bfd9a72b6c84a05578b9661

 

We've got a bearish "Tower", which has been formed right below the upper "Window". So, the pair is likely going to test the 89 Moving Average during the day.

 

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EUR/USD: EURO CORRECTED TO KIJUN-SEN

05:41 04.10.2017

 

Technical levels: support – 1.1700; resistance – 1.1770.

 

Trade recommendations:

 

Sell — 1.1750; SL — 1.1770; TP1 — 1.1700; TP2 – 1.1650

Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices are under the Cloud’s resistance.

 

1507095649-5974574d0f06c411e972e24d898d2

 

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USD/JPY: DOLLAR WILL TEST CLOUD’S SUPPORT

05:41 04.10.2017

 

 

Technical levels: support – 112.30/40; resistance – 113.00, 113.30.

 

Trade recommendations:

 

Buy — 112.60; SL — 112.40; TP1 — 113.30; TP2 — 114.00.

Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the horizontal Tenkan-sen and Kijun-sen; the prices are breaking down the Kijun’s support and going to Cloud.

 

1507095649-3dcc4d3b0e9d38341d309e86e7227

 

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USD/CHF: FRANC WENT OFF THE ROAD

07:27 04.10.2017

 

Recommendations:

 

SELL 0.971 SL 0.9765 TP1 0.9585 TP2 0.954

SELL 0.9645 SL 0.97 TP1 0.9585 TP2 0.954

On the daily chart, the inability of bulls to settle above 0.9760 points at their weakness. If bears manage to use the pin bar, the odds of decline to 88.6% and 113% targets of the “Shark” pattern will increase.

 

1507101970-a5903a7f3cf43bc4f33886526fd84

 

On H1, there’s a combination of reversal patterns “Three Indians” and “Widening wedge”. Aggressive selling involves opening positions on the break of the lower border of the uptrend channel. Conservative sellers can open positions on a successful break of support at 0.9645. 

 

1507101992-351a015a31e5fdb2fee97b43bc66a

 

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GBP/USD: BEARS CREATED A TRAP

07:52 04.10.2017

 

Recommendation:

 

SELL 1.332 SL 1.3375 TP 1.321 TP2 1.3105

 

SELL 1.338 SL 1.3435 TP1 1.328 TP2 1.321

 

On the daily chart, after GBP/USD formed AB=CD and “Three Indians” patterns, there was a pullback. Bulls are currently trying to return in the game and resume the uptrend. For a start, they have to overcome 1.3290.

 

1507103480-b6b56ed02b1869ac79ae2067aff9c

 

On H1, GBP/USD reached 88.6% target of the “Shark” pattern. After this, the “Shark” started transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% of the wave CD, as usual, are used for forming short positions.

 

1507103500-2cf183d9aa99dd882e50bd88c66a5

 

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EUR/USD: "PENNANT" LED TO FORM NEW HIGH

08:58 04.10.2017

 

1507107416-a3b5b2e98c6adc06a3c5656472591

 

There's a "V-Bottom" pattern, so the price reached the nearest resistance at 1.1772. Nevertheless, the market is likely going to achieve the 89 Moving Average in the short term. If a pullback from this line happens, we could have a decline towards the closest support at 1.1714 - 1.1688

 

1507107416-a8f37eee1e7dea87ccc537e5921ae

 

The last "Pennant" pattern led to form a new local high. Also, we've got a bullish "Flag", so the pair is likely going to reach another resistance at 1.1831 in the coming hours. However, if a pullback from this level happens, there'll be an opportunity to have a decline in the direction of the nearest support at 1.1739 - 1.1714.

 

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GBP/USD: "TRIPLE BOTTOM"

09:00 04.10.2017

 

1507107416-f5e0036674592fdc2733e57953cdd

 

Bears faced with support at 1.3223, so there's a "Triple Bottom", which pushed the price to the closest resistance at 1.3278. Meanwhile, the market is likely going to continue moving up towards the 34 Moving Average. If this line acts as resistance little later on, bears will try to reach another support at 1.3223 - 1.3182.

 

1507107416-03718938af5febfd6ec3f5835286f

 

We've got a "Triple Bottom", so the price is consolidating. The main intraday target is the 89 Moving Average, which could be a departure point for another decline in the direction of the last low.

 

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