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AUD/USD: bears going to deliver wave iii of (iii) 8/31/2016 There’s a possible wedge in wave , which led to form wave [ii] in a form of a zigzag. Previously, we’ve got two pullbacks from 7/8 Murrey Math Level (P=200) in a row. Therefore, wave [iii] is likely going to be continued, so we should keep an eye on 1/8 MM as a possible bearish target. As we can see on the one-hour chart, wave i was formed yesterday, so we’ve got wave ii in progress. It’s likely that the price is going to test 3/8 MM Level during the day. If we see a pullback from this level, there’ll be an opportunity to have wave iii of (iii). More: https://new.fxbazooka.com/analytics/10279

GBP/JPY rising inside intermediate correction 8/31/2016 GBP/JPY rising inside intermediate correction Next buy target - 140.00 GBP/JPY continues to rise inside the second intermediate corrective wave (2) – which started earlier - when the pair reversed up from the support zone lying between the support level 130.00 (previous sell target and the low of the earlier primary impulse wave ?) and the lower daily Bollinger Band. GBP/JPY is expected to rise further in the active intermediate wave (2) toward the next buy target at the resistance level 140.00 (top of the earlier minor B-wave from July) - coinciding with the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of June). More: https://new.fxbazooka.com/analytics/10278

AUD/NZD under bearish pressure 8/31/2016 AUD/NZD under bearish pressure Next sell target - 1.0310 AUD/NZD has been falling in the last few trading sessions – following the earlier breakout of the round support level 1.0500 (which reversed the previous minor impulse wave 1). The breakout of the support level 1.0500 accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the middle of July. AUD/NZD is expected to fall down further toward the next sell target at the support level 1.0310 (which reversed the previous sharp intermediate impulse wave (1) in July, as can be seen from the daily AUD/NZD chart below). Strong resistance remains at 1.0500. More: https://new.fxbazooka.com/analytics/10277

Key option levels for Wednesday, August 31th 8/31/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 60 553 ? + 121 195 ? Closest resistance levels 1.1180(96?); 1.1218; 1.1246; 1.1280 Closest support levels 1.1130; 1.1103; 1.1081; 1.1053 Trading recommendations Baseline scenario Short EUR/USD below 1.1130, with target points at 1.1103 and 1.1081 Alternative scenario Moving above 1.1180 can be considered as a signal to buy the pair, with target at 1.1218 and 1.1246 USD/JPY Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 206 ? + 1 247 ? Closest resistance levels 103.36; 103.56; 103.82; 104.14 Closest support levels 102.68(56?); 102.41; 102.20; 101.93 Trading recommendations Baseline scenario Buy USD/JPY above 103.36, with the target points at 103.56 and 103.82 Alternative scenario Moving below 102.68 can be considered as a signal to sell the pair, with target at 102.41 and 102.20 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 556 ? + 443 ? Closest resistance levels 1.3123; 1.3160; 1.3210; 1.3273 Closest support levels 1.3031; 1.2995; 1.2945 Trading recommendations Baseline scenario Long USD/CAD above 1.3123, with the target points at 1.3160 and 1.3210 Alternative scenario Moving below 1.3031 can be considered as a signal to sell the pair, with target at 1.2995 and 1.2945 More: https://new.fxbazooka.com/analytics/10276

EUR/USD: the third wave going to move on 8/31/2016 The market has been falling down since a pullback from 6/8 Murrey Math Level (P=200) happened. So, we’ve got a bearish impulse in wave iii of (a). Therefore, the price is likely going to reach 1/8 MM Level in the short term. As we can see on the one-hour chart, there’s an extension in wave iii. However, if we see a pullback from 2/8 MM Level (P=400), there’ll be an opportunity to have a local correction. Nevertheless, bears are likely going to deliver wave [5] of iii later on. More: https://new.fxbazooka.com/analytics/10275

GBP/USD: flat going to end 8/31/2016 We’ve got a consolidation, which is taking place on the four-hour chart. Therefore, it’s likely to see a decline towards a support at 1.3056 – 1.3022 in the short term. At the same time, if we have a pullback from these levels, bulls will probably try reach the 89 Moving Average. The price found a support at 1.3056, which led to the current flat. Also, we’ve got a resistance by the 34 Moving Average. In this case, the pair is likely going to get a support at 1.3069 – 1.3056 shortly, but if a pullback from this area happens, then we should keep an eye on the nearest resistance at 1.3119. More: https://new.fxbazooka.com/analytics/10270

USD/JPY: the Clouds breakout 8/31/2016 Technical levels: support – 102.50, 101.20; resistance – 103.50, 103.70, 104.10. Trade recommendations: 1. Sell — 103.70; SL — 103.90; TP1 — 102.50; TP2 — 101.20. Reason: a bullish Ichimoku Cloud and the golden cross of Tenkan-sen and Kijun-sen, but the strong resistance near 103.70. More: https://new.fxbazooka.com/analytics/10269

GBP/USD: holding under the Cloud 8/31/2016 Technical levels: support – 1.3060, 1.3020, 1.2965; resistance – 1.3120. Trade recommendations: 1. Sell — 1.3080; SL — 1.3100; TP1 — 1.3020; TP2 — 1.2965. Reason: narrowing bullish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen; the prices are fixed under the Cloud. More: https://new.fxbazooka.com/analytics/10268

EUR/USD: local "V-top" helps bears to move on 8/31/2016 The price faced a support at 1.1130, which brought a consolidation into the market. Also, we’ve got a “V-Bottom” pattern, so bulls are likely going to get a resistance on the 89 Moving Average. Considering a “Triple Top” pattern, bears will probably try to achieve a support at 1.1113 afterwards. There’s a “Triple Bottom” pattern, but it hasn’t been confirmed yet. So, the market is likely going to decline towards a support at 1.1145 – 1.1130 in the short term. However, if a pullback from this area happens, there’ll an opportunity to have an upward correction. More: https://new.fxbazooka.com/analytics/10267

AUD/USD: bears have control 8/31/2016 AUD/USD has reached targets of "Three Indians" pattern. The break below the lower border of the bullish channel means that bears have seized the initiative. The buyers manages to find some support at 0.752, but if the pair falls to yesterday's minimum, this will increase risks of decline to 0.744-0.7450. On H1 AUD/USD is moving within descending trend channel. It means that bears remain in control. The targets of the downtrend are at 0.7490 and 0.7550. The nearest resistance is at 0.755 and 0.7590. More: https://new.fxbazooka.com/analytics/10264

EUR/USD: bears keep advancing 8/31/2016 On the daily chart EUR/USD, as expected, renewed minimum of the doji bar, which led to continuation of the downtrend. The sentiment remains bearish. Risks of decline towards 1.1110 and 1.1070 are significant. The nearest resistance levels are close to 1.1175 and 1.1206. On H1 the bulls managed to hold at the lower border of the widening wedge. If the pair renews yesterday's low, the pair will keep moving down towards 1.1115 and 1.1080. Use advance towards 1.1206 to sell the euro against the US dollar. More: https://new.fxbazooka.com/analytics/10263

USD/CAD & Crude Oil Inventories: Strong resistance in place? 8/31/2016 Today at 14:30 GMT will be released the US crude oil inventories, following an unexpected number that weighed on the oil prices during last week. For this time, we could see a decrease from 2.5M to 1.1M, according to the most recent analysts' consensus. Overall higher prices of the oil are putting an interesting scenario across the commodity currencies. For example, USD/CAD is now heading up towards the 1.3100 handle. Our technical overview for the Loonie at H4 chart is still bullish, as it has been trading above the 500 SMA. However, the pair is trapped inside a very volatile range in terms of price action and we should expect a lower reaction when it reaches the resistance zone of 1.3126 and eventually can re-test the support zone of 1.3025. If the USD/CAD clings to break the 1.3126 level, then a next target to the upside would be the 1.3184 price level. More: https://new.fxbazooka.com/analytics/10262

USD/JPY: "Window" waiting for bears 8/30/2016 Bulls have got a support by the nearest “Window”, so there’s a “Morning Doji Star”, which has been confirmed. Therefore, the price is likely going to test the “Window” once again, but if we see a pullback from it, then bulls will be free to deliver a new high. As we can see on the Daily chart, there’s a “Harami” at the local low, so there’s an opportunity to have an achievement of the nearest resistance line. We’ve got an “Engulfing” and a “Harami” at the local high, but their confirmation isn’t enough. If we see a stronger confirmation later on, then bears will have a reason to get a support on the nearest “Window”. More: https://new.fxbazooka.com/analytics/10261

EUR/USD: "Hammer" points to possible bullish correction 8/30/2016 We’ve got a “Hammer” and a “Harami” at the last local lows, but their confirmation is a quite weak. So, the market is likely going to test the nearest support line once again. If a pullback from this level happens, there’ll be an opportunity to have an upward correction. As we can see on the Daily chart, the price has achieved the 89 Moving Average, so bulls will probably try to deliver a pullback from this line. The main trend is a still bullish, but we’ve got a “Hammer” at the local low. Therefore, the pair is likely going to get a resistance on the 21 Moving Average. If a pullback from this line happens, the nearest support could be tested again. More: https://new.fxbazooka.com/analytics/10260

EUR/GBP rising inside intermediate impulse wave EUR/GBP rising inside intermediate impulse wave Next buy target - 0.8600 EUR/GBP recently reversed up from the support zone lying between the support level 0.8500 and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of July. The upward reversal from this support area completed the previous intermediate ABC correction (4) - which is a part of the primary impulse wave ? from the end of May. EUR/GBP is expected to rise further in the active impulse waves (5) and ? toward the next buy target at the resistance level 0.8600. Buy stop-loss can be placed below the aforementioned support level 0.8500. More: https://new.fxbazooka.com/analytics/10256

AUD/USD reversed from strong resistance zone 8/30/2016 AUD/USD reversed from strong resistance zone Next sell targets - 0.7500 and 0.7400 AUD/USD has been falling in the last two weeks inside the intermediate impulse wave (3) – which started earlier – when the pair reversed down from the strong resistance zone lying between the resistance levels 0.7700 and 0.7800 (which also earlier reversed the previous primary ABC correction ?, as can be seen below). The downward reversal from this resistance zone created the weekly Japanese candlesticks reversal pattern Falling Star. AUD/USD is expected to fall down further to the next sell target at the support level 0.7500 – the breakout of which can lead to further losses toward 0.7400. More: https://new.fxbazooka.com/analytics/10255

GBP/USD: "Double Top" highlights possible decline 8/30/2016 Bears faced a support at 1.3056, so we’ve got an upward correction in progress. Also, there’s a “Double Top”, so bears are likely going to reach a support at 1.3022. However, if a pullback from this level be on the table, there’ll be a chance to see a bullish correction towards a resistance at 1.3119 – 1.3183. We’ve got a “V-Bottom” pattern, so the market is consolidating. At the same time, there’s a “Double Top”, so the price is likely going to decline in the direction of the nearest support at 1.3022 in the short term. More: [url=https://new.fxbazooka.com/analytics/10254 https://new.fxbazooka.com/analytics/10254[/url]

EUR/USD: new low coming soon 8/30/2016 The price faced a support at 1.1160, so we’ve got a local consolidation. Considering a bearish “Triple Top” pattern, the market is likely going to falling down in the short term. If we see a pullback from the next support at 1.1130, there’ll be an opportunity to have an upward correction. The pair is moving up and down between a support at 1.1152 and a resistance at 1.1176. Therefore, the market is likely going to reach the closest support at 1.1130 shortly. At the same time, if a pullback from this level happens, bulls will probably try to deliver a new high. More: https://new.fxbazooka.com/analytics/10253

Key option levels for Tuesday, August 30th 8/30/2016 EUR/USD Main trend Short-term period Medium-term period Bullish Bearish Changes in the open interest + 216 532 ? + 70 035 ? Closest resistance levels 1.1216; 1.1243; 1.1265; 1.1293 Closest support levels 1.1153; 1.1130; 1.1102; 1.1068 Trading recommendations Baseline scenario Long EUR/USD above 1.1216, with the target points at 1.1243 and 1.1265 Alternative scenario Moving below 1.1153 can be considered as a signal to sell the pair, with target at 1.1130 and 1.1102 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 532 ? + 201 ? Closest resistance levels 1.3138; 1.3162; 1.3180; 1.3202 Closest support levels 1.3055; 1.3035; 1.3011; 1.2983 Trading recommendations Baseline scenario Short GBP/USD below 1.3055, with target points at 1.3035 and 1.3011 Alternative scenario Moving above 1.3138 can be considered as a signal to buy the pair, with target at 1.3162 and 1.3180 USD/JPY Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 720 ? + 611 ? Closest resistance levels 102.39; 102.57; 102.83; 103.14 Closest support levels 101.78; 101.51(35?); 101.13; 100.87 Trading recommendations Baseline scenario Buy USD/JPY above 102.39, with the target points at 102.57 and 102.83 Alternative scenario Moving below 101.78 can be considered as a signal to sell the pair, with target at 101.51 and 101.13 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 289 ? + 488 ? Closest resistance levels 1.3058; 1.3089; 1.3135; 1.3196 Closest support levels 1.2982; 1.2955; 1.2917 Trading recommendations Baseline scenario Long USD/CAD above 1.3058, with the target points at 1.3089 and 1.3135 Alternative scenario Moving below 1.2982 can be considered as a signal to sell the pair, with target at 1.2955 and 1.2917 More: https://new.fxbazooka.com/analytics/10252

AUD/USD: at the crossroads 8/30/2016 Technical levels: support – 0.7540/60; resistance – 0.7590, 0.7620. Trade recommendations: 1. Buy — 0.7560; SL — 0.7540; TP1 — 0.7620; TP2 — 0.7680. Reason: Tenkan-sen and Kijun-sen are horizontal; a bearish Ichimoku Cloud, but the Senkou Span B is going up; there is a strong support on the D1-timeframe. More: https://new.fxbazooka.com/analytics/10249

GBP/USD: the Bulls have lost the positions above the Cloud 8/30/2016 Technical levels: support – 1.3020, 1.2965; resistance – 1.3120. Trade recommendations: 1. Sell — 1.3080; SL — 1.3100; TP1 — 1.3020; TP2 — 1.2965. Reason: a bullish Ichimoku Cloud, but the Tenkan-sen and Kijun-sen are horizontal; the prices are in the negative area. More: https://new.fxbazooka.com/analytics/10248

EUR/USD: on the Clouds support 8/30/2016 Technical levels: support – 1.1160, 1.1100; resistance – 1.1205, 1.1250. Trade recommendations: 1. Buy — 1.1160; SL — 1.1140; TP1 — 1.1205; TP2 – 1.1250. Reason: a cancelled dead cross of Tenkan-sen and Kijun-sen; a bullish Ichimoku Cloud and a strong resistance of Senkou Span B. More: https://new.fxbazooka.com/analytics/10247

USD/jPY: bulls backed off 8/30/2016 On the daily chart the break of resistance at 100.83 made the pair go to the upper border of the previous consolidation range of 100.8-102.7. If the sellers manage to keep the pair below yesterday's high, pin bar after the 80-20 model will increase the risks of the bearish counterattack. On the contrary, if the pair renews yesterday's highs, the bulls will continue correction towards the upper border of the long-term descending channel. On H1 USD/JPY emerged from the triangle and this let the bulls to reach 88.6% target of the Bat pattern. After that the pair formed descending triangle. Successful test of its lower border will increase risks of a pullback towards 101.3. On the other hand, if the pair rises above its upper border and then reaches ? 102.4 high, it will mean that the rally continues. More: https://new.fxbazooka.com/analytics/10246

EUR/USD is losing ground 8/30/2016 On the daily chart EUR/USD after reaching the targets of AB=CD pattern and leaving the bullish channel the euro reached support at 1.1175 (38.2% of the last descending wave). As a result, the pair formed a doji bar. If the pair falls below its minimum, risks of decline to 1.1072 will increase. On H1 after the reversal of EUR/USD the combination of "Tree Indians" pattern and 1-2-3 made the pair reach 224% of AB=CD. The bears ran into support at 1.1169. Below this leve we'll see a decline to 1.1115 and lower. In line with the principle of the widening wedge, traders should sell the euro on attempts to rise to 1.1206 and 1.1233-1.1244. More: https://new.fxbazooka.com/analytics/10245

USD/JPY & CB Consumer Confidence: How long can be the correction in the US dollar? 8/30/2016 This week we'll have some major headlines in terms of macro data from the United States and today we'll start with the CB Consumer Confidence due to be released at 14:00 GMT. Last reading gave us a 97.3 number, but analysts are expecting a possible decrease at least to the 97.2 for August. During the last three data, CB showed a positive pattern, with only posting a decline from 94.7 to 92.6 in May. Overall, in terms of technical analysis for USD/JPY at H1 chart, following the Jackson Hole Symposium that strengthened to the US Dollar across the board, we're seeing a consolidation above the 50 and 200 SMA. The nearest support can be found at the 101.87 level, that should have a breakout to the downside in the negative scenario from CB Consumer Confidence, while a positive one should push the pair to test higher levels above the resistance zone of 102.33. More: https://new.fxbazooka.com/analytics/10244