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EUR/CAD falling inside minor impulse wave 3 1/11/2017 EUR/CAD falling inside minor impulse wave 3 Next sell target - 1.3830 EUR/CAD has been falling sharply in the last few trading sessions inside the minor impulse wave 3, which started earlier from the resistance zone lying between the resistance levels 1.4400 and 1.4300, upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse from November. EUR/CAD is expected to fall further in the active impulse waves 3 and © toward the next sell target at the support level 1.3830 (which stopped the previous minor impulse wave 1 in December). The pair is likely to correct up after reaching the support level 1.3830. More: https://new.fxbazooka.com/analytics/12015

EUR/USD: wave i of (iii) is on the way 1/11/2017 The price has been declining since a pullback from 3/8 MM Level happened. Therefore, bears are likely going to deliver wave (iii) in the short term. In this case, we could have a new low soon. As we can see on the one-hour chart, wave (ii) formed like a double zigzag, so the price is declining in wave i of (iii). The main intraday target is 3/8 MM Level, which could be a departure point for wave ii of (iii). More: https://new.fxbazooka.com/analytics/12014

USD/JPY: "Window" going to act as a resistance 1/11/2017 We’ve got an “Inverted Hammer” and a “Harami”, which both have been confirmed. In this case, the market is likely going to test the upper “Window” in the short term. If a pullback from this level happens, bears will probably try to deliver another decline. There’s a bullish “Three Methods”, which led to a new high. Previously, a “Three White Soldiers” has been formed. Under this circumstances, the pair is likely going to test the nearest “Window”, which could be a departure point for a new downward price movement. More: https://new.fxbazooka.com/analytics/12011

EUR/USD: bears broke "Window" 1/11/2017 We’ve got a “Tower”, an “Engulfing” and a “Harami”, which all have been confirmed enough. Therefore, the market is likely going to continue falling down towards the nearest support. If a pullback from this level happens, there’ll be an opportunity to have another bullish rally. There’s a bearish “Tweezers”, so the price reached the 144 Moving Average. If this line acts as a support, bulls are likely going to deliver an upward correction. However, there’s an option to have another decline later on. More: https://new.fxbazooka.com/analytics/12010

Key option levels for Wednesday, January 11th 1/11/2017 EUR/USD Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 129 660 ? + 19 362 ? Closest resistance levels 1.0588; 1.0610; 1.0641; 1.0666 Closest support levels 1.0543; 1.0520; 1.0487; 1.0467 Trading recommendations Baseline scenario (High risk of reversal) Long EUR/USD above 1.0588, with target points at 1.0610 and 1.0641 Alternative scenario Moving below 1.0543 can be considered as a signal to Sell the pair, with target at 1.0520 and 1.0487 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 298 ? + 222 ? Closest resistance levels 1.3222; 1.3252; 1.3275; 1.3307 Closest support levels 1.3214; 1.3191; 1.3151; 1.3118 Trading recommendations Baseline scenario Long USD/CAD above 1.3222, with the target points at 1.3252 and 1.3275 Alternative scenario Moving below 1.3214 can be considered as a signal to Sell the pair, with target at 1.3191and 1.3151 AUD/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 224 ? + 38 ? Closest resistance levels 0.7382; 0.7408; 0.7428; 0.7454 Closest support levels 0.7349; 0.7321; 0.7279; 0.7249 Trading recommendations Baseline scenario Short AUD/USD below 0.7349, with the target points at 0.7321 and 0.7279 Alternative scenario Moving above 0.7382 can be considered as a signal to Buy the pair, with target at 0.7408 and 0.7428 More: https://new.fxbazooka.com/analytics/12009

GBP/USD: Pound may correct deeper 1/11/2017 Technical levels: support – 1.2150; resistance – 1.2230, 1.2270, 1.2330. Trade recommendations: 1. Buy — 1.2170; SL — 1.2150; TP1 — 1.2230; TP2 — 1.2270. 2. Sell — 1.2270; SL — 1.2290; TP1 — 1.2150; TP2 — 1.2110. Reason: expanding bearish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the correctional movement and in the channel of Tenkan and Kijun. More: https://new.fxbazooka.com/analytics/12008

EUR/USD: bulls can’t overcome the SSB resistance 1/11/2017 Technical levels: support – 1.0500, 1.0530; resistance – 1.0610, 1.0650/60. Trade recommendations: 1. Buy — 1.0550; SL — 1.0530; TP1 — 1.0650; TP2 – 1.0690. Reason: bullish mood of the Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices are still in the Cloud; the strong support of and Kijun-sen and the weak resistance of Senkou Span B. More: https://new.fxbazooka.com/analytics/12007

GBP/USD: correction going to move on 1/11/2017 The main trend is still bearish. The price is consolidating between a support at 1.2113 and a resistance at 1.2198. So, the market is likely going to decline towards a support at 1.2081. If we see a pullback from this level, there’ll be an option to have an upward movement in the direction of the nearest resistance at 1.2198 – 1.2227. There’s a consolidation, which is taking place above a support at 1.2113. Considering a resistance at 1.2198, bears are likely gong to test a support at 1.2106 – 1.2081 during the day. If a pullback from this area be on the table, bulls will have a chance to test a resistance at 1.2219. More: https://new.fxbazooka.com/analytics/12006

EUR/USD: bears going to test the next support 1/11/2017 We’ve got a new local high on the four-hours chart. Also, there’s a “V-Top” pattern, so the price reached a support at 1.0552. However, bears are likely going to continue pushing the price lower, so we should keep an eye on the next support at 1.0524 – 1.0504 as a possible intraday target. If a pullback from this area happens, there’ll be an opportunity to have another bullish price movement. The price has broken a local uptrend, which led to the current consolidation. The 55 Moving Average acted as a support, but the pair is likely going to reach the next support at 1.0524 – 1.0504 in the short term. Considering a possible pullback from these levels, bulls will probably try to test a resistance at 1.0620 – 1.0626 later on. More: https://new.fxbazooka.com/analytics/12005

USD/CAD ahead of Crude Oil Inventories: Can we expect another selling's wave? 1/11/2017 The oil has been on the wires during the last weeks and during yesterday’s session, we saw a decline in the prices per barrel. Today we’ll have a key event at 15:30 GMT with the Crude Oil Inventories from the US. Market’s consensus is calling for an increase of about 0.9M in stockpiles, which is a data higher than the last week’s draw of -7.1M. If data comes in better than expected, CAD should strengthen across the board against its major competitors. Our technical view for USD/CAD at H1 chart remains bearish as the pair continues to trade below the 200 SMA at H1 chart, as well as below the bearish trend line plotted from December 28th highs. We can expect a strong breakout below the support level of 1.3200 if Oil’s data comes in better-than-expected, with a near-term target around 1.3100, while a weak data or within the expectations should send the Loonie to test the 1.3280 level, which is near to the trend line mentioned above. More: https://new.fxbazooka.com/analytics/12000

USD/JPY: bullish "Three White Soldiers" 1/10/2017 We’ve got an “Engulfing” and a “Three Black Crows” at the last high, which both have been confirmed. However, there’s a bullish “Harami” at the local low, but this pattern doesn’t have a confirmation. So, if the 13 Moving Average acts as a resistance, there’ll be an opportunity to have another decline. There’s a “Three Methods” pattern, which led to the last decline. At the same time, we’ve got a “Harami” and a “Three White Soldiers”, so the price is likely going to test the nearest resistance. If we see a pullback from this level, bears will probably try to deliver a local downward price movement. More: https://new.fxbazooka.com/analytics/11993

EUR/USD: "Shooting Star" set up bearish correction The last “Tower” and “Engulfing” patterns are still on the table. Also, there’s a bearish “Harami”, so the 13 Moving Average is likely going to act as a support. If we see any bullish pattern on this line, bulls will probably try to test the nearest “Window” once again. Bulls has almost achieved the upper “Window”, so the price is declining. Meanwhile, we’ve got a “Shooting Star” at the last high, which has been confirmed enough. Therefore, the market is likely going to test the closest support by the last “Three Methods” pattern. More: https://new.fxbazooka.com/analytics/11992

EUR/USD: resistance by 3/8 MM Level 1/10/2017 We’ve got the third pullback from 3/8 MM Level in a row, so there’s an opportunity to have another bearish impulse in wave (iii). However, this wave count requires a confirmation, which could be a lodgement under 2/8 MM Level. As we can see on the one-hour chart, there’s a resistance by 8/8 MM Level. Wave (ii) has been formed like a double zigzag. In this case, bears are likely going to deliver wave i in the short term. The main intraday target is 4/8 MM Level. More: https://new.fxbazooka.com/analytics/11991

Key option levels for Tuesday, January 10th 1/10/2017 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 116 042 ? + 124 456 ? Closest resistance levels 1.0608; 1.0629; 1.0659; 1.0683 Closest support levels 1.0574; 1.0557; 1.0532; 1.0496 Trading recommendations Baseline scenario Short EUR/USD below 1.0574, with target points at 1.0557 and 1.0532 Alternative scenario Moving above 1.0608 can be considered as a signal to Buy the pair, with target at 1.0629 and 1.0659 GBP/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 352 ? + 1 446 ? Closest resistance levels 1.2206; 1.2240; 1.2269; 1.2287 Closest support levels 1.2144; 1.2123; 1.2091; 1.2071 Trading recommendations Baseline scenario Short GBP/USD below 1.2144, with target points at 1.2123 and 1.2091 Alternative scenario Moving above 1.2206 can be considered as a signal to Buy the pair, with target at 1.2240 and 1.2269 USD/JPY Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 547 ? + 479 ? Closest resistance levels 116.09; 116.39/50; 116.78; 116.96 Closest support levels 115.27; 114.82; 114.61; 114.38 Trading recommendations Baseline scenario Long USD/JPY above 116.09, with the target points at 116.39 and 116.78 Alternative scenario Moving below 115.27 can be considered as a signal to Sell the pair, with target at 114.82 and 114.61 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 283 ? + 252 ? Closest resistance levels 1.3221; 1.3254; 1.3277; 1.3308 Closest support levels 1.3210; 1.3187; 1.3146; 1.3113 Trading recommendations Baseline scenario Long USD/CAD above 1.3221, with the target points at 1.3254 and 1.3277 Alternative scenario Moving below 1.3210 can be considered as a signal to Sell the pair, with target at 1.3187 and 1.3146 More: https://new.fxbazooka.com/analytics/11990

USD/JPY: the Dollar is loosing its positions again 1/10/2017 Technical levels: support – 115.40, 115.15; resistance – 115.90, 116.30. Trade recommendations: 1. Sell — 116.30; SL — 116.50; TP1 — 115.40; TP2 — 115.15. Reason: bearish Ichimoku Cloud, falling Senkou Span A and expanding cloud; a dead cross of falling Tenkan-sen and Kijun-sen; the prices are under Senkou Span B. More: https://new.fxbazooka.com/analytics/11989

AUD/USD: bulls are broke through SSB resistance 1/10/2017 Technical levels: support – 0.7340; resistance – 0.7430. Trade recommendations: 1. Buy — 0.7360; SL — 0.7340; TP1 — 0.7415; TP2 — 0.7430. Reason: bearish Ichimoku Cloud, but the rising Senkou Span A and the narrowing cloud’s range; a golden cross of Tenkan-sen and Kijun-sen and rising lines; the prices are breaking out the SBB resistance. More: https://new.fxbazooka.com/analytics/11988

GBP/USD: bearish "Pennant" 1/10/2017 The main trend is still bearish. The price faced a support at 1.2113, so bulls are trying to set up an upward correction. If we see any bearish pattern in the coming hours, the market is likely going to test the next support at 1.2081. If a pullback from this level happens, there’ll be a chance to have a correction towards the nearest resistance at 1.2198 – 1.2227. As we can see on the one-hour chart, bears found a support at 1.2113, so the price is consolidating. Also, there’s a “Pennant” pattern”, so the pair is likely going to test another support at 1.2081 during the day. If we see a pullback from this level, bulls will probably try to deliver an upward correction. More: https://new.fxbazooka.com/analytics/11987

EUR/USD: bulls broke the high 1/10/2017 https://new.fxbazooka.com/img/articles/11986/10-1-2017-EUR-H4.png[/img Bears faced a support at 1.0504, which is strengthened by the 55 & 34 Moving Averages. Also, there’s a local “V-Bottom” pattern, so the price retraced up. The main intraday target is a resistance at 1.0655 – 1.0669. If a pullback from this area happens, there’ll be an opportunity to have another decline. The last downtrend has been broken, so the pair found a resistance at 1.0628. However, we’ve got a “V-Top” pattern. In this case, the market is likely going to test a support at 1.0575 in the short term. Considering a possible pullback from this level, bulls will probably try to reach a resistance at 1.0650 – 1.0669 afterwards. More: https://new.fxbazooka.com/analytics/11986

USD/JPY: bears have launched an attack 1/10/2017 On the daily USD/JPY chart, the bears are trying to achieve a correction. They managed to trigger the "Double top" pattern for the second time and pull the pair towards 113.50-114.00. However, the sellers first need to make the greenback dip below 114.70. The nearest resistance is near 116.10. On H1, USD/JPY keeps forming a "widening wedge" pattern. The pair's recoil towards 61.8% of the wave 4-5 let the bears form short positions. The following return to January low will increase the risk of the fall towards 113.6. On the other hand, successful test of 116.1 will return the pair inside the medium-term consolidation range 116.1-118.5. More: https://new.fxbazooka.com/analytics/11985

Gold: bulls met resistance 1/10/2017 On the daily chart, gold is correcting towards the descending medium-term trend. If the bulls manage to settle above resistance at $1184 an ounce, the risks of increase towards $1220 will grow. On the other hand, recoil will let the bears gather strength for the counterattack. On H1 the necessary condition for the reversal of the short-term uptrend is the break below support at $1171 an ounce. This will trigger the "Shark" pattern. Its 88.6% target lies near $1152. Recommendation: SELL $1171 SL $1186 TP1 $1152 TP2 $1142. More: https://new.fxbazooka.com/analytics/11984

AUD/USD & Retail Sales: A decline is coming soon in the Aussie? 1/10/2017 Today at 00:30 GMT will be released the Australian Retail Sales for November and there are expectations of a slight decrease to 0.4% from the 0.5% posted on October, which beats the forecasts that put the data on 0.3%. Because of the nature of the event, we can expect some volatility on the AUD-related pairs, as a negative data should help to pressure the Australian Dollar to test key support levels against its competitors. Our technical analysis for AUD/USD at H1 chart has detected a trend line channel formation that favors to the bulls in the mid-term. However, the pair could start to correct its main bullish bias and eventually it can plunge towards the 0.7332 level. If data comes in weaker than expected, then a decline to test the 0.7290 level is likely to happen. The 200 SMA is supporting the overall bullish scenario across the board. More: https://new.fxbazooka.com/analytics/11983

GBP/AUD falling inside intermediate downward impulse (3) 1/9/2017 GBP/AUD falling inside intermediate downward impulse (3) Next sell target - 1.6250 GBP/AUD continues to fall inside the minor impulse wave 1, which belongs to the intermediate downward impulse (3), which started recently from the resistance zone lying between the key resistance level 1.7140 (which has been reversing the pair all December), upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp downward impulse from June. GBP/AUD is expected to fall further in the direction of the next sell target at the support level 1.6250. Strong resistance now stands at resistance level 1.7140. More: https://new.fxbazooka.com/analytics/11980

GBP/USD broke strong support level 1.2200 1/9/2017 GBP/USD broke strong support level 1.2200 Next sell target - 1.2000 GBP/USD continues to fall after the recent breakout of the strong support level 1.2200 (which stopped the previous impulse waves 1 and (, as can be seen from the daily GBP/USD chart below). The breakout of the support level 1.2200 is expected to accelerate the active minor impulse wave 3, which started earlier from the resistance zone lying between the resistance level 1.2400 and the 38.2% Fibonacci correction of the previous downward impulse 1. GBP/USD is expected to fall further toward the next sell target at the powerful support level 1.2000. Sell stop-loss can be placed above the aforementioned price level 1.2200. More: https://new.fxbazooka.com/analytics/11979

USD/JPY: "High Wave" stopped bulls 1/9/2017 There’s an “Inverted Hammer”, which has been confirmed enough. At the same time, we’ve got a local bearish “Engulfing” at the local high. So, the price is likely going to test the nearest support level. We’ve got a bearish “High Wave”, which has a confirmation. Under this circumstances, the pair is likely going to test the closest resistance. Considering a possible pullback from this level, there’s an option to have another decline in the short term. More: https://new.fxbazooka.com/analytics/11978

EUR/USD: bearish "Engulfing" on the "Window" 1/9/2017 We’ve got a “Tower” and an “Engulfing”, which both have been confirmed. Therefore, bears are likely going to test the nearest support. If we see any bullish pattern later on, there’ll be an opportunity to have another upward movement. There’s a possible “Tweezers” at the local high. Also, we’ve got an “Engulfing” on the nearest “Window”, but a confirmation of this pattern is a quite weak. Therefore, the market is likely going to continue falling down. More: https://new.fxbazooka.com/analytics/11977