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EUR/GBP: BULLS ARE RESUMING THE TREND

07:31 03.11.2017

 

Recommendation:

 

BUY 0.8990

 

SL 0.8935

 

TP1 0.9075 TP2 0.9200

 

On the daily chart, EUR/GBP is forming the “Dragon” pattern. The first condition of its realization is the return of the pair inside the previous short-term uptrend channel. A successful test of resistance at 0.8980 will be the signal.

 

1509694179-bc1ce4ebdd72b71af2881b8edc2b5

 

On H1, EUR/GBP formed a widening wedge pattern. Return of the pair to support at 0.8800 with the following successful test is a signal for selling. On the other hand, successful test of resistance at 0.8990 will open way to the north for bulls.

 

1509694196-311438cdc50bb0f634d8ee27e47a0

 

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EUR/USD: DEVELOPING "FLAG" PATTERN

08:45 03.11.2017

 

1509698596-bb4bc720171c25532b9d68667aa72

 

The price is consolidating between the levels 1.1695 - 1.1582. Also, there's a developing "Flag" pattern, so the market is likely going to reach the nearest resistance at 1.1724 - 1.1729. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1634 - 1.1615.

 

1509698596-aed7b73bcbd6b595d16407f8d2150

 

There's a consolidating, which is taking place between the 55 & 89 Moving Averages. Moreover, we've got a "V-Top" pattern, so bears are likely going to test the 34 Moving Average soon. If a pullback from this line arrives little later on, bulls will probably try to reach the next resistance at 1.1695 - 1.1724.

 

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GBP/USD: "TRIPLE TOP" PATTERN

08:48 03.11.2017

 

1509698596-d79078659cb5616b1893b11dd409b

 

There's a "Triple Top" pattern, so the market has plunged. However, bears faced with support at 1.3047 - 1.3032, so the price is consolidating. It's likely that the pair is going to rise in the short term. The main intraday target is the next resistance at 1.3081 - 1.3120. This area could be a departure point for a decline.

 

1509698596-ddd793e5b060fb886ebb97f4897aa

 

All the Moving Averages have been broken. If a pullback from the closest resistance at 1.3190 happens, there'll be an opportunity to have a downward price movement. In this case, we should keep an eye on the next support at 1.3026 - 1.2994 as the next bearish target.

 

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AUD/CAD REVERSED FROM RESISTANCE ZONE

12:16 03.11.2017

AUD/CAD reversed from resistance zone

Next sell target - 0.9770

AUD/CAD recently reversed down from the resistance zone lying between the strong resistance level 0.9900 (top of the previous minor impulse wave 1 from September), upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from the start of August. AUD/CAD is expected to fall further to the next sell target at the next major support level 0.9770 (which created the daily Bullish Engulfing and the daily Hammer in September).

 

GRVKNfL.png

 

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AUD/NZD REVERSED FROM RESISTANCE ZONE

12:17 03.11.2017

 

AUD/NZD reversed from resistance zone

Next sell target - 1.1000

AUD/NZD recently reversed down from the resistance zone lying between the multi-month resistance level 1.1300 (which has reversed numerous upward impulse waves from the end of 2014, as can be seen from the weekly AUD/NZD chart below) and the upper weekly Bollinger Band. Given the strength of the aforementioned resistance zone - AUD/NZD can be expected to fall further to the next sell target at the next support level 1.1000.

 

GRVLfUg.png

 

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NZD/USD: BULLS ARE DREAMING ABOUT REVENGE

07:03 06.11.2017

 

Recommendation:

 

BUY 0.695 SL 0.6895 TP 0.705

 

SELL 0.682 SL 0.6875 TP1 0.6625 TP2 0.637

 

On the daily chart, bulls failed to hold above an important support at 0.6820. NZD/USD consolidated between 0.6820 and 0.6950. If it leaves this range, the risks of reaching 127.2% and 161.8% targets of “Crab” pattern or return to the inside of the uptrend channel will increase.

 

1509951642-fb9be1d9d65d6402746f6573306cf

 

On H1, there’s increased activity of buyers near 0.6880 and 0.6840. If the pair renews November high, this will create reasons for the continuation of NZD advance.

 

1509951666-3696dc2326705fd45dfa7b732beb8

 

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AUD/USD: BEARS GOT HUNGRY

07:15 06.11.2017

 

Recommendation:

 

SELL 0.762 SL 0.7675 TP 0.75

 

BUY 0.773 SL 0.7785 TP1 0.782 TP2 0.786

 

On the daily chart, AUD/USD reached 88.6% target of the “Shark” pattern. After that, there was a pullback towards 23.6% of the wave CD. The pair consolidated in the range between 0.7620-0.7735. If the pair leaves this range, risks of realization of 113% target or a correction to the medium-term bearish trend will increase.

 

1509952453-1db64c049cc9775b27418fd0e6b08

 

On H1, rebound from the current levels will allow the bulls to count on the “Widening wedge” pattern. On the other hand, renewal of October low will point at the further decline.

 

1509952466-ef00342837a633bda01cab6a3fe3e

 

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EUR/USD: LOCAL "FLAG" PATTERN

07:32 06.11.2017

 

1509953470-77b228c1f71d1c2bdb36b1cea7662

 

The last "Flag" pattern has been broken, but the price is consolidating. The main intraday target is the next support area at 1.1560 - 1.1533. If a pullback from these levels happens, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1615 - 1.1634.

 

1509953470-2ec96061233be83a842622c134a0a

 

The price is consolidating between the levels 1.1615 - 1.1601. Also, there's a local "Flag" pattern, so we should keep an eye on the nearest resistance at 1.1634 as an intraday target. If a pullback from this level arrives little later on, bears will probably try to reach another support at 1.1573 - 1.1560.

 

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GBP/USD: "THORN" PATTERN

07:43 06.11.2017

 

1509953470-5f6fa572e006c54bd1f4ec9f738c6

 

There's a "Double Bottom" pattern, which has been confirmed, so there's an upward price movement. However, we've got a bearish "Thorn" pattern, so the market is likely going to test the nearest support at 1.3026 - 1.2994. This area could be a departure point for a bullish correction.

 

1509953470-dc7c7f7b94949965b6c7b40a290e2

 

The 34 Moving Average has acted as resistance, so there's a "Thorn" pattern, which has confirmation. Nevertheless, bulls are likely going to test the closest resistance at 1.3190 during the day. If a pullback from this level happens, there'll be an option to have another decline towards the last low.

 

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EUR/USD: DEVELOPING WAVE (V) OF [iII]

07:53 06.11.2017

 

1509954715-dae55a21caf6d0c1f1d9569a72ef0

 

The price couldn't fixate above 3/8 MM Level, which means wave (iv) might have been formed, so the price is declining in wave (v) of [iii]. The main intraday target is 0/8 MM level, which could be a departure point for a bullish correction.

 

1509954715-3c926d4e10d1f90137ea153d987fe

 

Wave (iv) took the form of a zigzag, so there's an impulse in wave i. Therefore, we're likely going to have another downward impulse in wave iii in the coming hours. In this case, we should keep an eye on 5/8 MM Level as the next bearish target.

 

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USD/JPY: BEARISH "ENGULFING"

12:25 06.11.2017

 

1509971024-d174c0894f11ac8af5623dcb3ec99

 

There's a bearish "Harami", which has been confirmed enough. So, the price is likely going to test the nearest Moving Average. If a pullback from this line happens, there'll be an opportunity to have another upward price movement.

 

1509971023-2f1c455c4a4d516e5ca0909dff7df

 

We've got a bearish "Engulfing", so the price is declining. Also, there isn't any reversal pattern so far. In this case, the market is likely going to test the lower "Window", which could be a departure point for another bullish rally.

 

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EUR/USD: PRICE GOING TO CONTINUE DECLINING

12:28 06.11.2017

 

1509971023-06e72148f54b6314a03b3627888db

 

There are bearish patterns such a "Shooting Star" and a "Tweezers", which both have been confirmed. So, the market is likely going to continue declining towards the next support area in the short term.

 

1509971024-ab13b13af096749b653e95f721e63

 

The 89 Moving Average has acted as resistance, but there's a bullish "Hammer", which has been formed at the local low. Therefore, we could have a local upward correction and the following decline afterwards.

 

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GBP/USD: POUND RETURNED TO BOTTOM BORDER OF CLOUD

05:45 07.11.2017

 

Technical levels: support – 1.3080; resistance – 1.3180.

 

Trade recommendations:

 

Sell — 1.3160; SL — 1.3180; TP1 — 1.3080; TP2 — 1.3010.

Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices returned to the Cloud, under the resistance of horizontal Senkou Span B and Kijun-sen.

 

1510033482-5838ef800660551113de2aff99712

 

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AUD/USD: AUSSIE ENTERED INTO THE CLOUD AGAIN

05:46 07.11.2017

 

Technical levels: support – 0.7650; resistance – 0.7710

 

Trade recommendations:

 

Sell — 0.7670; SL — 0.7690; TP1 — 0.7590; TP2 — 0.7540.

Reason: bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices entered into the Cloud, but there is a strong resistance near 0.7000.

 

1510033482-42a68b4bfa2f0515dfbaa054e9dba

 

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EUR/USD Daily Analytics

08:40 07.11.2017

 

1510043545-959c66e6f76549543cbcafa2231e9

 

The last "Flag" pattern has been broken, so the price is consolidating. The main intraday target is the next support area at 1.1582 - 1.1560. If a pullback from these levels happens, there'll be an opportunity to have a bullish correction in the direction of the closest resistance at 1.1668 - 1.1695.

 

1510043545-b0d3fc87d3593749f2e667b28ea81

 

The price is consolidating between the levels 1.1615 - 1.1601. Also, there's a "Flag" pattern, so the pair is likely going to test the 55 Moving Average in the coming hours. If a pullback from this line happens little later on, we could have another decline towards the nearest support at 1.1574 - 1.1560.

 

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XAU/USD Daily Analytics

08:40 07.11.2017

Recommendation: SELL $1267 SL $1281 TP1 $1237 TP2 $1212

 

On the daily chart, XAU/USD keeps fighting for an important level of $1281 an ounce. If the bulls manage to leave the descending trend channel and settle above it, gold will get chance to get to $1299 and $1321. On the other hand, bears’ victory will increase the odds of the pair getting to 78.6% and 200% of Gartley pattern and AB=CD.

 

1510043728-3c3c5205e2350e553c87bfb24c322

 

On H1, wait for formation of the wave 4-5 within the widening wedge. Decline below support at $1267 will signal downtrend’s resumption.

 

1510043817-ccae822ec07d68fa61b1c2713a582

 

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USD/CAD Daily Analytics

08:56 07.11.2017

Recommendation:

 

BUY 1.2645 SL 1.2590 TP1 1.2745 TP2 1.2845

 

BUY 1.2585 SL 1.253 TP1 1.2685 TP2 1.2785

 

On the daily chart, the inability of bulls to conquer resistance at 1.2922 became a reason for bears’ counterattack. As long as the pair’s above support at 1.2462, there are reasons to buy on the pullbacks to the short-term uptrend.

 

1510044909-1430b06b52ccdf0a9e951da313446

 

On H1, USD/CAD is forming “Spike with reversal and acceleration”. Rebounds from support in form of the lower border of the uptrend and the upper border of a triangle should be used for opening long positions.

 

1510044925-5c726ce87bf89e31cdcfbd4c37b26

 

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GBP/USD Daily Analytics

08:56 07.11.2017

 

1510043545-4098f81ec8ec6125591f3dd0cb5bf

 

We've got a "Double Bottom", which has been confirmed, so the price reached the 34 Moving Average. In this case, the market is likely going to achieve the next support at 1.3150 - 1.3081 in the short term. However, if a pullback from these levels happens, we could have an upward price movement towards another resistance at 1.3250 - 1.3239.

 

1510043544-76ace30b1c007b10d8be29bf21c2b

 

The last "Triple Bottom" pattern led to the current upward price movement, so all the Moving Averages have been broken. Meanwhile, we could have a local bearish correction during the day, but bulls are likely going to reach the next resistance at 1.3205 - 1.3239 afterwards.

 

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EUR/USD Daily Analytics

14:03 07.11.2017

 

1510063297-648abc9cfdea63ca06158e95c5902

 

The last "Shooting Star" led to the current decline. Also, there isn't any reversal pattern so far. If the 21 Moving Average acts as resistance, we're likely going to have just another decline.

 

1510063297-dd373282864199e4f2da4a7cb5e2d

 

We don't have any reversal pattern for now. Yesterday, we had a "Tweezers" pattern, so there's a new local low. In this case, the pair is likely going to test the nearest support area during the day.

 

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USD/JPY Daily Analytics

14:05 07.11.2017

 

1510063297-5b9dd48e37d78622980d13021600b

 

There's a bullish "Engulfing", which has been formed on the 34 Moving Average. Considering confirmation of this pattern, the price is likely going to test the closest resistance area once again.

 

1510063297-df06835c130cab39721eccd13bfbc

 

We've got a "High Wave" pattern on the local high, so the pair is likely going to test the 89 Moving Average. If a pullback from this line happens little later on, we could have another bullish price movement.

 

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EUR/USD Daily Analitycs

06:04 08.11.2017

Technical levels: support – 1.1550, 1.1580; resistance – 1.1620.

 

Trade recommendations:

 

Sell — 1.1620; SL — 1.1640; TP1 — 1.1580; TP2 – 1.1550

Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are formed new local lows, but needs a correction to Tenkan or Kijun.

 

1510121059-5974574d0f06c411e972e24d898d2

 

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USD/JPY Daily Analitycs

06:05 08.11.2017

Technical levels: support – 113.70; resistance – 114.40.

 

Trade recommendations:

 

Buy — 114.00; SL — 113.80; TP1 — 114.40; TP2 — 114.80.

Sell — 113.60; SL — 113.80; TP1 — 113.00; TP2 — 112.40.

Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the bulls can’t breaking out a resistance of Tenkan-sen and Kijun-sen and the prices returned to Cloud.

 

1510121059-3dcc4d3b0e9d38341d309e86e7227

 

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USD/CHF Daily Analitycs

07:00 08.11.2017

Recommendation:

 

BUY 1.0035 SL 0.998 TP1 1.0145 TP2 1.0235

 

SELL 0.994 SL 0.9995 TP1 0.9875 TP2 0.984

 

On the daily chart, USD/CHF consolidated after reaching 224% target of AB=CD. A triangle was formed. A break of its upper border will allow bulls to continue rally towards 1.0145 and 1.0235.

 

1510124299-a5903a7f3cf43bc4f33886526fd84

 

On H1, USD/CHF keeps forming a ledge within “Spike and ledge” pattern. A successful test of resistance at 1.0035 will open the way up to bulls. On the other hand, decline below support at 0.9940 will let bears develop correction.

 

1510124323-351a015a31e5fdb2fee97b43bc66a

 

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GBP/USD Daily Analitycs

07:18 08.11.2017

Recommendation:

 

SELL 1.3105

 

SL 1.3160 TP1 1.2890

 

TP2 1.2710

 

On the daily chart, GBP/USD is consolidating between 1.3045 and 1.3320. A break of its upper border will create grounds for the pound’s increase to 1.3415 and 1.3520. On the other hand, successful test of support at 1.3045 will increase the risks of the pair going to 200% target of AB=CD.

 

1510125455-b6b56ed02b1869ac79ae2067aff9c

 

On H1, after forming “Wolfe waves” USD/CHF formed a “Widening wedge”. As usual, the pair’s advance above 88.6% of the wave 4-5 is used for buying, while the fall below 23.6% is used for selling.

 

1510125473-2cf183d9aa99dd882e50bd88c66a5

 

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EUR/USD Daily |Analitycs

08:14 08.11.2017

 

1510128735-8d1df78766c01fc0c0ea2f568d791

 

The main local trend is still bearish. The last "Flag" pattern led to a new low. It's likely that the price is going to reach the next support at 1.1533 - 1.1494 in the short term. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish correction.

 

1510128735-4ec1e8164dd97a97a7a42be11d33e

 

The 34 Moving Average has acted as resistance, so there's a "Double Top" pattern, which pushed the price to the closest support at 1.1582. The main intraday target is the next resistance at 1.1601 - 1.1605, which could be a departure point for another bearish price movement.

 

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