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CAD/CHF rising inside minor correction 8/12/2016 CAD/CHF rising inside minor corrective wave 2 Next buy target - 0.7600 CAD/CHF has been rising in the last few trading sessions inside the second minor corrective wave 2, which stared earlier - when the pair reversed up with the daily Morning Star from the support zone lying between the support levels 0.7420 (previous sell target) and 0.7350. This support zone was strengthened by the Fibonacci cluster made out of the 61.8% and 38.2% Fibonacci correction levels of the two previous upward impulses from April and February respectively. CAD/CHF is likely to rise further to the next buy target at the resistance level 0.7600 (which reversed the previous intermediate ABC correction (2) in July, as can be seen below). More: https://new.fxbazooka.com/analytics/10047

USD/JPY: bulls found a lodgement above the “Window" 8/12/2016 The previously formed “Harami” and “Three Methods” have done a great job, so the price reached the 34 Moving Average. So, it’s likely to see a support by the nearest “Window”. If it happens, bulls are likely going to achieve 55 Moving Average shortly. As we can see on the Daily chart, here’s an “Engulfing” at the last low, so the market is likely going to test the nearest resistance line, which is strong enough to reverse the price movement into a downward direction. The price has been rising since a “Hammer” arrived at the local low. Moreover, bulls have found a lodgement above the nearest “Window”. In this case, the pair is likely going to rise until any reversal pattern arrives. More: https://new.fxbazooka.com/analytics/10045

EUR/USD: "Three Black Crows" points to further decline 8/12/2016 [ There’s a support by the 144 Moving Average, so we’ve got a “Three Methods” pattern on this line, but it hasn’t been confirmed yet. So, the market is likely going to test the nearest resistance, which could reverse the price movement into a downward direction. As we can see on the Daily chart, here’s a “Harami” at the local high, but it haven’t got a confirmation. Therefore, bears will probably try to push the price lower in the short term. We’ve got a “Harami” and a “Three Black Crows” at the local highs. Also, there’s a strong support by the 55 Moving Average. Under this circumstances, if we see a pullback from the nearest resistance, there’ll be an opportunity to have another bearish movement. More: https://new.fxbazooka.com/analytics/10044

Key option levels for Friday, August 12th 8/12/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 13 229 ? + 45 219 ? Closest resistance levels 1.1208; 1.1225; 1.1246; 1.1272 Closest support levels 1.1121; 1.1106; 1.1087; 1.1063 Trading recommendations Baseline scenario Short EUR/USD below 1.1121, with target points at 1.1106 and 1.1087 Alternative scenario Moving above 1.1208 can be considered as a signal to buy the pair, with target at 1.1225 and 1.1246 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 1 645 ? + 1 188 ? Closest resistance levels 1.3055; 1.3096(74?); 1.3120; 1.3148 Closest support levels 1.2927; 1.2897; 1.2878; 1.2856 Trading recommendations Baseline scenario Sell GBP/USD below 1.2927, with target points at 1.2897 and 1.2878 Alternative scenario Moving above 1.3055 can be considered as a signal to buy the pair, with target at 1.3096 and 1.3120 USD/JPY Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 261 ? + 229 ? Closest resistance levels 102.29/43; 102.59; 102.79; 103.03 Closest support levels 101.51; 101.25; 101.06; 100.83 Trading recommendations Baseline scenario Short USD/JPY below 101.51, with target points at 101.25 and 101.06 Alternative scenario Moving above 102.29 can be considered as a signal to buy the pair, with target at 102.59 and 102.79 USD/CAD (Caution: Thin Market!) Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 528 ? + 768 ? Closest resistance levels 1.3026; 1.3057; 1.3098; 1.3151 Closest support levels 1.2932(15?); 1.2892; 1.2858; 1.2816 Trading recommendations Baseline scenario Sell USD/CAD below 1.2932, with target points at 1.2892 and 1.2858 Alternative scenario Moving above 1.3026 can be considered as a signal to buy the pair, with target at 1.3057 and 1.3098 EUR JPY GBP CAD More: https://new.fxbazooka.com/analytics/10043

USD/JPY: the trades will continue inside a cloud 8/12/2016 Technical levels: support – 101.00, 101.50; resistance – 102.60. Trade recommendations: 1. Sell — 102.60; SL — 102.80; TP1 — 101.50; TP2 — 101.00. Reason: a dead cross of Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud. More: https://new.fxbazooka.com/analytics/10042

EUR/USD: euro supported by Kijun 8/12/2016 Technical levels: support – 1.1120/30, 1.1090; resistance – 1.1170, 1.1190. Trade recommendations: 1. Buy — 1.1150; SL — 1.1130; TP1 — 1.1190; TP2 – 1.1230. Reason: bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen. More; https://new.fxbazooka.com/analytics/10041

EUR/USD: wave [d] of 4 going to reach 3/8 MM Level 8/12/2016 There’s a possible “Triangle” in wave 4 on the four-hour chart. Yesterday wave [c] was ended on 3/8 Murrey Math Level (P=250), so bears are likely going to deliver wave [d] shortly. The main intraday target is 2/8 MM Level. As we can see on the one-hour chart, the price has found a lodgement under 6/8 Murrey Math Level (P=200). Also, we’ve got wave [c], which was ended in a form of a zigzag. Therefore, the market is likely going to decline towards 3/8 MM Level during the day. More: https://new.fxbazooka.com/analytics/10040

GBP/USD: "Pennant" highlight possibility to have a new low 8/12/2016 We’ve got a “Double Top” pattern, which has been confirmed enough, so the price reached a support at 1.2954. Also, bears have delivered a new low. Under this circumstances, sellers are likely going to move on, so we should keep an eye on the next support at 1.2877 – 1.2849 as a possible bearish target. At the same time, if a pullback from this area arrives, there’ll be a chance to see a local upward correction. There’s a consolidation in progress, so we’ve got a possible “Pennant” pattern on the one-hour chart. Therefore, bears are likely going to achieve a support at 1.2906 – 1.2875 soon. Nevertheless, if sellers be stopped on this area, bulls will have an opportunity to reach a resistance at 1.3017 – 1.3056. More: https://new.fxbazooka.com/analytics/10039

EUR/USD: "Triple Top" stand in the way of bulls 8/12/2016 There’s a “Triple Top” pattern, so the market is likely going to get a support at 1.1120 – 1.1113 in the short term. However, if a pullback from this area happens, there’ll an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1186 – 1.1222. As we can see on the one-hour chart, there’s a “Triple Top” as well, which led to the current local consolidation between the 34 & 89 Moving Averages. Therefore, the pair is likely going to decline towards a support at 1.1120 – 1.1113. If we see a pullback from these levels, bulls will probably try to catch a resistance at 1.1186 – 1.1196. More: https://new.fxbazooka.com/analytics/10038

USD/JPY: bouble bottom discouraged the bears 8/12/2016 On the daily USD/JPY chart the bulls keep aiming for resistance at 102.69. If the buyers manage to get here, risks of growth to 103.97 and 104.38 will increase. The latter corresponds to the upper border of an uptrend and 23.6% of the last long-term descending wave. On the contrary, if the pair renews August low, it will continue its way down to 98. On H1 USD/JPY formed a double bottom. If the pair leaves 100.83-102.9 range, bearish trend will likely continue or we'll see development of correction to 103.97-104.08 and 104.89-105.06. The latter corresponds to 88.6% of the Bat pattern. More: https://new.fxbazooka.com/analytics/10037

AUD/USD met Three Indians 8/12/2016 On the daily AUD/USD chart the pair formed "Three Indians" pattern. A pin bar appeared in the area of the third top, it's lower border is close to 78.6% Fibo of the last bullish wave. If the bears manage to hold the pair below 0.7688, risks of decline to 0.7570 will increase. On H1 AUD/USD chart sellers are trying to pull the pair below support at 0.7676. It corresponds to the lower border of the uptrend channel. Successful test will make the pair decline to 0.7717-0.7627 (88.6% target of the "Shark" pattern + 38.2% Fibo of the last descending wave) and 0.7587 (50%). The nearest resistance levels are at 0.7723 and 0.7750. More: https://new.fxbazooka.com/analytics/10036

USD/JPY & U.S. Retail Sales: What will happen with the greenback? 8/12/2016 Today at 12:30 GMT we'll know the US retail sales numbers for July, where the markets are expecting a decrease from 0.6% to 0.4%, and the latest release suggested that the consumer force is a key factor for the economic growth during the second semester of the year in the United States. Bear in mind that the sales had a very poor start of the 2016 year, so the further data, in a positive manner, would help to boost the greenback. The technical picture for USD/JPY at H4 chart is telling us that a bearish consolidation is still looking to add more downside momentum in order to break the lows post-Brexit. The support zone of 100.41 remains very solid and as long as the pair trades above it, then we can witness a breakout above the 102.55 level, in order to extend the bullish momentum. More: https://new.fxbazooka.com/analytics/10033

Forex trading plan for August 12 8/11/2016 US dollar index hold its ground on Thursday after two previous days of decline. American unemployment claims came better than expected showing that the nation’s labor market is on good shape. We’ll find out more about American economy on Friday: the US will release retails sales, PPI (12:30 GMT) and consumer confidence (14:00 GMT) figures. Also pay attention to China’s industrial production release during Friday’s Asian session: the reading will shape the market’s risk sentiment. Good reading will be positive for Australian dollar, while weak reading will increase demand for Japanese yen. Note that oil prices rose by about 1% on Thursday after the International Energy Agency forecasted crude markets would rebalance in the next few months following several years of heavy overproduction. EUR/USD tested 1.1135, but the managed to return above the 50-day MA at 1.1150. Close above this point may give the bulls strength to attempt an increase to 1.1230 (100-day MA), but firstly they will need to clear resistance at 1.1180 (resistance line drawn through August highs). Technical developments at the daily chart favor the bullish outcome. Support is at 1.1120/00. Watch German preliminary GDP at 06:00 GMT. The euro area’s preliminary GDP will come out at 09:00 GMT. GBP/USD declined on Thursday after it failed to sustain gains on Wednesday, However, indicators show that bearish momentum declined. Weekly pivot support at 1.2935 guards the downside. Next support is in the 1.2800 area. Resistance is at 1.3020. If the bulls manage to push the prices above this point, we will see deeper correction higher with targets at 1.3090/1.3100 and potentially even 1.3150. USD/JPY remains under pressure. Break below support at 101.70 will open the way down to 100.70 and below that the target will be at 100.00. If the bulls somehow manage to change the situation – that doesn’t seem very likely – the pair will meet resistance at 101.80 and 101.75. It seems that there are serious AUD/USD sellers in 0.7755 area. However, the bulls obviously don’t give up. As long as the pair remains above 0.7676 (July high, bottom of the upward trend channel), the outlook will remain bullish. More: https://new.fxbazooka.com/analytics/10032

EUR/AUD reached sell target 1.4500 8/11/2016 EUR/AUD reached sell target 1.4500 Next sell targets - 1.4300 EUR/AUD continues to fall after the earlier breakout of the long-term support level 1.4500, which has been steadily reversing this currency pair from December (as can be seen from the daily EUR/AUD chart below) and which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.4500 is expected to accelerate the active minor impulse wave 5, which belongs to the ©-wave of the primary ABC correction ② from February. If the pair closes today below the support level 1.4500 - EUR/AUD can then be expected to fall further to the next sell target at the support level 1.4300 (forecast price for the completion of the active impulse wave 5 and ©). More: https://new.fxbazooka.com/analytics/10031

GBP/USD reached sell target 1.3000 8/11/2016 GBP/USD reached sell target 1.3000 Next sell target - 1.2840 GBP/USD today broke below the round support level 1.3000, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level continues the active minor impulse wave (iii) – which began earlier – when the pair reversed down with the daily Japanese candlesticks reversal pattern Evening Star from the resistance zone surrounding the pivotal resistance level 1.3400. GBP/USD is expected to continue to fall in the active impulse waves (iii), 3 and (3) toward the next sell target at the support level 1.2840 (which stopped the previous impulse wave 1 in July). More: https://new.fxbazooka.com/analytics/10030

USD/JPY: "Window" has been waiting for bulls 8/11/2016 There’s a bullish “Harami” at the local low, but its confirmation is a quite weak. So, there’s an opportunity to have a local upward correction towards the nearest “Window” and the 34 Moving Average. If we see a pullback from these levels, bears will probably try to deliver a new low. As we can see on the Daily chart, here’s a confirmed “Engulfing”, so the market is likely going to decline until any bullish pattern arrives. We’ve got a local consolidation on the one-hour chart. There’s an “Engulfing” at the local low, which has been confirmed enough. Therefore, the 34 & 55 Moving Averages are likely going to act as a resistance in the short term. More: https://new.fxbazooka.com/analytics/10029

EUR/USD: "Tweezers" reversed the local trend 8/11/2016 We’ve got a lot of bearish patterns at the local high such as a “Harami”, a “Two Crows” and a “Tweezers”. So, the price is declining, but there’s also an opportunity to have a local bullish correction. Nevertheless, bears are likely going to push the market lower towards the nearest “Window”. As we can see on the Daily chart, there’s a possible bearish pattern at the local high, but it hasn’t finished yet. Therefore, if this pattern confirms, sellers will probably try to return into the market. There’re a “Hanging Man” and a “Shooting Star” at the last high. Moreover, we’ve got a “Tweezers”, which has been confirmed enough. Therefore, the pair is likely going to get a support on the 89 Moving Average in the short term. More: https://new.fxbazooka.com/analytics/10028

Key option levels for Thursday, August 11th 8/11/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 44 094 ? + 150 164 ? Closest resistance levels 1.1205; 1.1230; 1.1263; 1.1287 Closest support levels 1.1144/26; 1.1104; 1.1078; 1.1047 Trading recommendations Baseline scenario Short EUR/USD below 1.1144, with target points at 1.1104 and 1.1078 Alternative scenario Moving above 1.1205 can be considered as a signal to buy the pair, with target at 1.1230 and 1.1263 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 1 834 ? + 2 342 ? Closest resistance levels 1.3145; 1.3198; 1.3228; 1.3262 Closest support levels 1.2958; 1.2922; 1.2900; 1.2875 Trading recommendations Baseline scenario Sell GBP/USD below 1.2958, with target points at 1.2922 and 1.2900 Alternative scenario Moving above 1.3145 can be considered as a signal to buy the pair, with target at 1.3198 and 1.3228 USD/JPY Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 1 005 ? + 1 014 ? Closest resistance levels 101.86; 102.25; 102.50; 102.80 Closest support levels 100.96; 100.77(62?); 100.44; 100.22 Trading recommendations Baseline scenario Short USD/JPY below 100.96, with target points at 100.77 and 100.44 Alternative scenario Moving above 101.86 can be considered as a signal to buy the pair, with target at 102.25 and 102.50 EUR JPY GBP More: https://new.fxbazooka.com/analytics/10020

EUR/USD: wave [d] of 4 is about to start 8/11/2016 Wave 4 is taking place on the four-hour chart. We’ve got a pullback from 3/8 Murrey Math Level (P=250), so there’s an opportunity to have wave [d] of 4. The main intraday target is 3/8 MM Level, which could set up wave [e] of 4 afterwards. As we can see on the one-hour chart, the price is trading under 6/8 Murrey Math Level (P=200). Also, there’s an ended impulse in wave © of [c]. In this case, bears are likely going to deliver wave [d] of a possible triangle shortly. More: https://new.fxbazooka.com/analytics/10019

GBP/USD: "Flag" increasing bearish pressure 8/11/2016 Bulls faced a resistance at 1.3119, so we’ve got a “Double Top” pattern. Under this circumstances, the price is likely going to get a support at 1.2954 – 1.2877. Nevertheless, buyers will probably try to move on afterwards, so it’s likely to see an achievement of the 55 Moving Average soon. We’ve got a “Double Top” under the nearest resistance at 1.3101. So, there’s a consolidation in a form of a “Flag” along a level at 1.3017. In this case, the market is likely going to reach a support at 1.2945 – 1.2906. If bears be stopped here, there’ll be an opportunity to have another upward movement in the direction of a resistance at 1.3056 – 1.3071. More: https://new.fxbazooka.com/analytics/10018

EUR/USD: "Double Top" stopped bullish rally 8/11/2016 The price faced a resistance at 1.1186, which led to the current decline. So, the market is likely going to get a support at 1.1145 – 1.1120 in the short term. However, if we see a pullback from this area, then bulls will probably try to deliver a new high. There’s a possible “Double Top” pattern in progress. Therefore, bears are likely going to reach the 89 Moving Average during the day. At the same time, bulls are still strong enough, so we should keep an eye on the next resistance at 1.1196 – 1.1222 as an intraday target. More: https://new.fxbazooka.com/analytics/10017

USD/JPY: consolidation under the cloud 8/11/2016 Technical levels: support – 101.00; resistance – 101.70. Trade recommendations: 1. Sell — 101.70; SL — 101.90; TP1 — 101.20; TP2 — 100.60. Reason: a new dead cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A. More: https://new.fxbazooka.com/analytics/10016

AUD/USD: on the new highs[/url] 8/11/2016 Technical levels: support – 0.7680/90, 0.7630; resistance – 0.7730. Trade recommendations: 1. Buy — 0.7680/90; SL — 0.7660; TP1 — 0.7730; TP2 — 0.7790. Reason: bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen with its supporting of the market. More: https://new.fxbazooka.com/analytics/10015

EUR/USD: euro has entered to positive zone 8/11/2016 Technical levels: support – 1.1150, 1.1120; resistance – 1.1170, 1.1190. Trade recommendations: 1. Buy — 1.1150; SL — 1.1130; TP1 — 1.1190; TP2 – 1.1230. Reason: bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen. More: https://new.fxbazooka.com/analytics/10014

EUR/USD: eurobulls are on the attack 8/10/2016 Technical levels: support – 1.1120, 1.1100; resistance – 1.1170. Trade recommendations: 1. Buy — 1.1120; SL — 1.1100; TP1 — 1.1170; TP2 – 1.1200. Reason: bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen. More: https://new.fxbazooka.com/analytics/9998