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EUR/USD: POSSIBLE EXTENSION IN THE THIRD WAVE

10:27 04.10.2017

 

1507112781-f9696f68c73fe5816dc700fbc8131

 

There's a pullback from 0/8 MM Level, so wave 4 may have been formed. Therefore, there's an opportunity to have an upward impulse in wave . The main intraday target is 2/8 MM Level, which could be a departure point for a downward correction.

 

1507112781-6124603546f99c7aeda3685b8c809

 

As we can see on the one-hour chart, there's a possible extension in the third wave inside wave . So, the market is likely going to continue moving up, which means we could have a new local high pretty soon.

 

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USD/JPY: "TOWER" LED TO DECLINE

11:24 04.10.2017

 

1507116215-10cd06bb61f6009f80fe3ee2bcd2a

 

The price is still consolidating. Also, there's a "Hanging Man", which has been formed at the last local high. So, the 34 Moving Average is likely going to act as support. If so, we could have another bullish rally afterwards.

 

1507116215-d598739c6e97055a1d0f4024503b0

 

The last "Tower" pattern led to the current decline. Meanwhile, if any bullish pattern forms on the lower "Window", there'll be an opportunity to have an upward price movement towards the nearest resistance area.

 

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EUR/USD: BULLISH "ENGULFING"

11:28 04.10.2017

 

1507116215-b41ed7911d6ed349069a74e0ff4a8

 

There's a bullish "Engulfing", which has been confirmed enough. So, the market is likely going to continue moving up towards the nearest resistance area, which could be a departure point for another decline.

 

1507116215-a856a580601b1a5c40891d89c6238

 

We've got a bullish "Hammer", but confirmation of this pattern is still on the way. Therefore, we could have a local bearish correction during the day. However, if a pullback from the closest support happens little later on, there'll be an opportunity to have an upward price movement in the direction of the last high.

 

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GBP/USD: BREAKDOWN OF SUPPORT

07:13 05.10.2017

 

Technical levels: support – 1.3200, 1.3090; resistance – 1.3280.

 

Trade recommendations:

 

Sell — 1.3190; SL — 1.3210; TP1 — 1.3090; TP2 — 1.3050.

Reason: expanding bearish Ichimoku Cloud, but rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen and  Kijun-sen; the prices are breakdown the main support of the Cloud and entered into the negative area.

 

1507187572-5838ef800660551113de2aff99712

 

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AUD/USD: AUSSIE TESTED CLOUD’S RESISTANCE

07:13 05.10.2017

 

Technical levels: support – 0.7800; resistance – 0.7880.

 

Trade recommendations:

 

Buy — 0.7830; SL — 0.7810; TP1 — 0.7880; TP2 — 0.7900.

Reason: bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are returned to the support of Tenkan-sen and Kijun-sen.

 

1507187572-42a68b4bfa2f0515dfbaa054e9dba

 

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[b[EUR/JPY: THE TRUCE HAS RUN OVER TIME[/b]

07:16 05.10.2017

 

Recommendations:

 

BUY 133.05 SL 132.5 TP1 134.05 TP2 135

 

SELL 132 SL 132.55 TP1 131.25 TP2 130.4 TP3 129.8

 

On the daily chart, EUR/JPY is consolidating within a bullish trend. A break of its lower border and exit outside the uptrend channel will increase the risks of a pullback to 129.80.

 

1507187662-151f939c6df1fdb4a28b3d5785d89

 

On H1, EUR/JPY got stuck between 132 and 133.05. A successful test of its lower border will allow triggering of AB=CD pattern with a target at 200%. On the other hand, a break of resistance at 133.05 creates room for the uptrend’s resumption.

 

1507187691-b35d7fb0c22de42ad09055593ba2f

 

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USD/CAD: LOONIE IS BREAKING THE TREND

07:34 05.10.2017

 

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 the level of 1.2717, the risks of an inverted “Shark” pattern will significantly increase. Its 88.6% target is at 1.3250.

 

1507188790-1430b06b52ccdf0a9e951da313446

 

On H1, a break of 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.

 

1507188806-5c726ce87bf89e31cdcfbd4c37b26

 

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EUR/USD: PRICE GOING TO REACH 89 MA

08:43 05.10.2017

 

1507192901-4938ebec59430e105af4bd49c6c3d

 

The price is consolidating between the levels 1.1739 - 1.1793. It's likely that the market is going to test the 34 Moving Average during the day. If a pullback from this line happens later on, we could have just another decline towards the nearest support area at 1.1714 - 1.1688.

 

1507192901-1ad939a737431b8c3c31ed3f9cecb

 

The 55 Moving Average has acted as resistance, so the price is consolidating. However, the price is likely going to reach the 89 MA, which could be a departure point for another decline.

 

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GBP/USD: "PENNANT" PATTERN

08:45 05.10.2017

 

1507192901-987d19d723a49f6df29828d5f0cd1

 

Bears faced with support at 1.3223, so the price is consolidating near the 89 Moving Average. Also, there's a "Flag" pattern, so the market is likely going to reach the nearest support st 1.3182 - 1.3150 in the short term. If a pullback from these levels happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.3278.

 

1507192901-382982e2f43883bd5ea49bac53e4e

 

We've got a "Pennant" pattern, which lower side has been broken. So, the pair is likely going to achieve the next support at 1.3182 - 1.3150. However, if we see a pullback from this area, bulls will probably try to test the 34 Moving Average.

 

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EUR/USD: LEADING DIAGONAL IN WAVE (I)

08:53 05.10.2017

 

1507193548-9239f1fd487b817621f49c4e17b98

 

The price faced with support on 0/8 MM Level, so wave 4 may have been ended as a zigzag pattern. In this case, we're likely going to have an upward impulse in wave , so we should keep an eye on 3/8 MM Level as the nearest bullish target.

 

1507193548-0169c4f5ccb2d95e2e62d79ad5ce9

 

There's a leading diagonal in wave (i), but wave (ii) hasn't been finished yet. So, the pair is likely going to test 0/8 MM Level, which could be a departure point for wave (iii) of .

 

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USD/JPY: 144 MA GOING TO ACT AS SUPPORT

11:49 05.10.2017

 

1507204127-3835456c32d22c378aa6361867af9

 

The price is consolidating above the "Window", which is likely going to act as support once again soon. If a pullback from the 34 Moving Average happens, there'll be an opportunity to have another upward price movement.

 

1507204128-0e06201180c4bc75479a08b88adaa

 

There's a "Shooting Star", so the price is declining. Also, there isn't any reversal pattern so far. The 144 Moving Average is likely going to act as support. If so, bulls will probably try to deliver another rally.

 

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EUR/USD: DEVELOPING "THREE BLACK CROWS"

11:51 05.10.2017

 

1507204127-4e57fb0e6f4b923b7abebcc657ed0

 

There's a bullish "Engulfing", which has been confirmed by the last "Three Methods" pattern. So, the 34 Moving Average is likely going to act as resistance in the short term. If a pullback from this line happens, we could have another decline soon.

 

1507204127-ae928d518ea7ea539d16c7cdf7d67

 

It's likely that there's a developing "Three Black Crows" pattern. If it confirms, bears are likely going to test the closest support area, which could be a departure point for an upward price movement towards the Moving Averages.

 

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EUR/USD IS BUILDING A FORTRESS

07:17 06.10.2017

Recommendation:

 

BUY 1.1595

 

SL 1.1540

 

TP 1.1710

 

On the daily chart, EUR/USD fell below 1.17 (88.6% target of the “Shark” pattern). Bulls are ready to test support at 1.1685 (23.6% of the last bullish wave). Success will open the way to 113% target of the “Shark”

 

1507274178-8afba167b3e7c15d0d5d28d0f3c7b

 

On H1, a break below an important support at 1.1710 increased the risks of continuation to the downside to 1.1595-1.1605 (200% and 113% of AB=CD and “Shark”). If the euro gets there, it will create grounds for a pullback. 

 

1507274192-144c086f9efd0dd7367f2818eb875

 

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EUR/GBP: BULLS ARE RESUMING THE TREND

07:39 06.10.2017

 

Recommendation:

 

BUY 0.8945

 

SL 0.889

 

TP1 0.902 TP2 0.9085

 

On the daily chart, EUR/GBP keeps forming the invested “Shark” pattern and resuming the uptrend. A break of diagonal resistance and settling above 0.8929 will increase the risks of reaching 88.6% and 113% targets.

 

1507275468-bc1ce4ebdd72b71af2881b8edc2b5

 

On H1, EUR/GBP after reaching the targets of the reversal pattern “Widening wedge” started an uptrend. A beak of resistance at 0.8945 will be a signal for continuation to the upside towards the targets marked at the senior timeframe.

 

1507275501-311438cdc50bb0f634d8ee27e47a0

 

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EUR/USD: PRICE GOING TO TEST NEAREST SUPPORT

09:05 06.10.2017

 

1507280663-cae9c567b90faa6d5dfcd99ed9e4a

 

The price is consolidating near the 34 Moving Average, so bears are likely going to reach the nearest support at 1.1661 - 1.1612. If a pullback from this area happens, we could have another upward price movement towards the closest resistance at 1.1688 - 1.1714.

 

1507280663-f1df67da9d626643fa9fbd6bc65c8

 

There's a consolidation, which is taking place between the levels 1.1688 - 1.1714. It's likely that the pair is going to test the next support at 1.1661 - 1.1639 during the day. Meanwhile, if we see a pullback from these levels, bulls will probably try to achieve another resistance at 1.1688 - 1.1695.

 

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GBP/USD: BEARS CAN'T STOP

09:08 06.10.2017

 

1507280663-899df55621060d3deb995c9ff859e

 

Bears faced with support at 1.3081, but the market is likely going to test the next support at 1.3017 - 1.2994 in the short term. If a pullback from this area happens, we could have a bullish price movement towards the nearest resistance area at 1.3081 - 1.3115.

 

1507280663-0664cd4cf460926680c14b9eaf8f9

 

The price is still declining. The main bearish target is the nearest support at 1.3017 - 1.2994. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.3081 - 1.3115.

 

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US NONFARM PAYROLLS: FORECASTS FROM BANKS

10:28 06.10.2017

 

The United States will release labor market data at 15:30 MT time today. According to the consensus forecast, American economy added in September only 88K of new jobs after gaining 156K in August. The reason for weak expectations in the Harvey hurricane. Apart from NFP, America will also release average hourly earnings and unemployment rate. Let’s see what outcome do the major banks envisage.  

 

1507285654-c4aa45cf9797a892ee3799c565805

 

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EUR/USD: "ENGULFING" AND "HAMMER"

12:12 06.10.2017

 

1507291883-90c0e2ef77e3283cbeb6575edf9ba

 

We've got a bullish "High Wave", which hasn't been confirmed enough. So, we could have just a local upward correction in the short term. If a pullback from the nearest resistance happens, bears are likely going to break the last low.

 

1507291883-8cdb700aaedd579baf62a7bec3b4a

 

We've got bullish patterns such an "Engulfing" and a "Hammer", which both have been confirmed. So, the 55 Moving Average is likely going to act as resistance during the day.

 

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USD/JPY: "WINDOW" ACTING AS SUPPORT

12:14 06.10.2017

 

1507291883-c19a715279e563be846c9cb97bf5f

 

The "Window" is acting as support, so we've got an "Engulfing" pattern. Therefore, the market is likely going to reach the nearest resistance area pretty soon.

 

1507291883-11041d62511bd9a6a829a69040bd6

 

There's a bearish "High Wave", which has been confirmed. So, the price is likely going to get support on the 55 Moving Average. If a pullback from this line happens, we could have just another bullish rally.

 

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EUR/AUD: TARGETING THE 1.5140 LEVEL

00:08 09.10.2017

 

EUR/AUD has gained momentum around the 65% Fibonacci retracement level at 1.4962 and now it’s targeting the -23.6% Fibo zone at 1.5138. During Friday’s session, it made a pull back in an effort to correct recent gains in the pair. If it manages to break above Friday’s highs, such target could be reached, while a pull back should take the pair to re-test the 200 SMA around the 38.2% Fibo level.

 

RSI indicator remains in the positive territory, favoring to the bulls.

 

1507507713-2d31d46924fd2bb6b6f019e8dff68

 

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EUR/USD: EURO FIXED POSITIONS OVER KIJUN-SEN

05:20 09.10.2017

 

Technical levels: support – 1.1725, 1.1700; resistance – 1.1760/70.

 

Trade recommendations:

 

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

Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are breakout the Kijun’s resistance, but there is a stronger resistance of the Cloud.

 

1507526389-5974574d0f06c411e972e24d898d2

 

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GBP/USD: POUND MADE A NEW LOWS

05:21 09.10.2017

 

Technical levels: support – 1.3060, 1.3000; resistance – 1.3150.

 

Trade recommendations:

 

Sell — 1.3150; SL — 1.3170; TP1 — 1.3060; TP2 — 1.3000.

Reason: bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are tested the support of 1.3020 and returned to Kijun-sen.

 

1507526389-5838ef800660551113de2aff99712

 

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NZD/USD: BEARS RETURNED HOME

07:20 09.10.2017

 

Recommendation:

 

SELL 0.7145 SL 0.72 TP1 0.6045 TP2 0.6965

 

BUY 0.6965 SL 0.691 TP1 0.7065 TP2 0.7145

 

On the daily chart, NZD/USD keeps forming Gartley pattern. Its 78.6% target is near the lower border of the uptrend channel. This increases the risks of a pullback. After that, buyers may try to resume the uptrend.  

 

1507533555-fb9be1d9d65d6402746f6573306cf 

 

On H1, there’s the short-term downtrend. The nearest resistance is close to 0.7145. The inability of bulls to overcome it will signal buyers’ weakness.

 

1507533579-3696dc2326705fd45dfa7b732beb8

 

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AUD/USD RAN INTO SHARKS

07:38 09.10.2017

 

Recommendation:

 

SELL 0.773 SL 0.7785 TP 0.76

 

SELL 0.786 SL 0.7915 TP1 0.773 TP2 0.76

 

On the daily chart, AUD/USD keeps going to 161.8% and 88.6% targets of the junior “Crab” pattern and the senior “Shark” pattern. They are situated around 0.76. The trend remains descending, so the pullbacks may be used for selling.

 

1507534651-1db64c049cc9775b27418fd0e6b08

 

On H1, AUD/USD can trigger the inverted “Shark” pattern and correct towards its target at 88.6%. To do this, bears need to break the diagonal resistance in the form of the upper border of the downtrend channel.

 

1507534665-ef00342837a633bda01cab6a3fe3e

 

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EUR/USD: "THORN" PATTERN PUSHED PRICE HIGHER

09:16 09.10.2017

 

1507540502-fcf2075df340adfa90a00bafa4b48

 

There's a "Thorn" pattern, which pushed the price higher, but bulls faced with resistance at 1.1739. In this case, the market is likely going to test the nearest support at 1.1688, which could be a departure point for an upward price movement towards the next resistance at 1.1772 - 1.1793.

 

1507540502-528db4be49f2fb4eb6bb7d17bebee

 

The price is consolidating near the 55 Moving Average. Also, there's a local "Triple Top" pattern, so bears are likely going to reach the closest support at 1.1695 - 1.1688. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1772 - 1.1793.

 

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