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USD/JPY: new low is coming because of "Engulfing" 8/10/2016 There’s a bearish “Engulfing” on the 34 Moving Average, which has been confirmed enough. However, there’s also an opportunity to have a local correction towards the nearest “Window”. As we can see on the Daily chart, here’s an “Engulfing” at the local high, so bears are likely going to move on. We’ve got one more “Engulfing” on the one-hour chart, which also has been confirmed enough. Therefore, sellers are likely going to reach the nearest support line, which could bring any bullish pattern afterwards. More: https://new.fxbazooka.com/analytics/10011

NZD/CHF continues the strong uptrend 8/10/2016 NZD/CHF continues the strong uptrend Next buy targets - 0.7150 and 0.7200 NZD/CHF continues to rise inside the minor impulse wave 5, which stared earlier when the pair reversed up from the support zone lying between the pivotal support level 0.6850 (former resistance level from June) and the 50% Fibonacci correction of the previous sharp upward impulse from the start of May. The active minor impulse wave 3 belongs to the sharp intermediate impulse wave © from the middle of January. NZD/CHF is expected to rise further in the direction of the next buy targets at the resistance levels 0.7150 and 0.7200 (which reversed the previous sharp minor impulse wave 3 in July). More: https://new.fxbazooka.com/analytics/10010

USD/CAD reversed from resistance zone 8/10/2016 USD/CAD reversed from resistance zone Next sell targets - 1.3000 and 1.2800 USD/CAD recently reversed down from the resistance zone (which has been steadily reversing this currency pair from the end of May) lying between the resistance levels 1.3120, 1.3230, upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from February. The downward reversal from this resistance zone started the active minor impulse wave (iii) – which belongs to wave 1 of the intermediate impulse wave (3) from July. USD/CAD is set to fall further to the next sell target at the support level 1.3000 – the breakout of which can lead to further losses toward 1.2800. More: https://new.fxbazooka.com/analytics/10009

EUR/USD: long shadow points to coming local correction 8/10/2016 The price has been rising since a pullback from the lower “Window” happened. So, we’ve got series of bullish patterns such a “Hammer”, an “Engulfing” and a “Three White Soldiers”. The last candles are bullish and there isn’t any reversal pattern so far, which makes possible an achievement the nearest resistance line. As we can see on the Daily chart, here’s a “High Wave” at the local low, which has been confirmed enough. However, there’s an opportunity to have a local correction towards the middle of the last huge white candle. Bears haven’t broken the lower “Window”, so bulls are in the game again. Considering a long shadow of the last white candle, the market is likely going to have a local correction during the day. At the same time, if any bullish pattern arrives later on, buyers will probably try to deliver a new intraday high shortly. More: https://new.fxbazooka.com/analytics/10008

EUR/USD: possible "Triangle" in wave 4 taking place 8/10/2016 The price is rising, so wave 4 is likely going to be continued in a form of a “Horizontal Triangle”. Therefore, there’s an opportunity to see a consolidation between 7/8 and 6/8 Murrey Math Levels (P=200) in the short term. As we can see on the one-hour chart, there’s a possible zigzag in progress in wave [c]. Considering a pullback from 2/8 Murrey Math Level, the next target is 6/8 Murrey Math Level. If a pullback from this level happens, bears will probably try to deliver wave [d] of 4. More: https://new.fxbazooka.com/analytics/10005

USD/JPY: the Dollar has weakened against Japanese yen 8/10/2016 Technical levels: support – 101.20; resistance – 101.70. Trade recommendations: 1. Sell — 101.70; SL — 101.90; TP1 — 101.20; TP2 — 100.60. Reason: cancelled golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A. More: https://new.fxbazooka.com/analytics/10000

GBP/USD: "V-Bottom" set up bullish correction 8/10/2016 There’s a “V-Bottom” pattern, which led to the last bullish price movement. However, the pair faced a resistance at 1.3119, so the market is likely going to get a support at 1.3015 shortly. If we see a pullback from this level, buyers will probably try to catch the next resistance at 1.3226. We’ve got a “Triple Bottom”, so the price achieved the 55 Moving Average, which acted as a resistance. Therefore, the market is likely going to decline towards a support at 1.3017. Nevertheless, if a pullback from this level happens, bulls will probably try to deliver a new local high. More: https://new.fxbazooka.com/analytics/9999

Key option levels for Wednesday, August 10th 8/10/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 45 158 ? + 360 883 ? Closest resistance levels 1.1158; 1.1186; 1.1206; 1.1230 Closest support levels 1.1115; 1.1096; 1.1067; 1.1046 Trading recommendations Baseline scenario Short EUR/USD below 1.1115, with target points at 1.1096 and 1.1067 Alternative scenario Moving above 1.1158 can be considered as a signal to buy the pair, with target at 1.1186 and 1.1206 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 2 468 ? + 3 030 ? Closest resistance levels 1.3100; 1.3140; 1.3165; 1.3194 Closest support levels 1.2986; 1.2962/49; 1.2915; 1.2869 Trading recommendations Baseline scenario Sell GBP/USD below 1.2986, with target points at 1.2962 and 1.2915 Alternative scenario Moving above 1.3100 can be considered as a signal to buy the pair, with target at 1.3140 and 1.3165 USD/JPY Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 212 ? + 23 ? Closest resistance levels 102.76; 103.01; 103.31; 103.65 Closest support levels 101.02; 100.79; 100.51;100.20 Trading recommendations Baseline scenario Long USD/JPY above 102.76, with the target points at 103.01 and 103.31 Alternative scenario Moving below 101.02 can be considered as a signal to sell the pair, with target at 100.79 and 100.51 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 1 744 ? + 103 ? Closest resistance levels 1.3158(72?); 1.3194; 1.3228; 1.3271 Closest support levels 1.3055; 1.3023; 1.2980; 1.2928 Trading recommendations Baseline scenario Buy USD/CAD above 1.3158, with the target points at 1.3194 and 1.3228 Alternative scenario Moving below 1.3055 can be considered as a signal to sell the pair, with target at 1.3023 and 1.2980 MORE: https://new.fxbazooka.com/analytics/9997

EUR/USD: "Pennant" led to new local high 8/10/2016 There was a consolidation under the Moving Averages, which has been ended by the last bullish rally, so the price faced a resistance at 1.1145. Therefore, the pair is likely going to reach a support on the 89 Moving Average in the short term. However, if we see a pullback from this line, there’ll be an opportunity for another upward movement. The last “Flag” pattern has done such a great job, so we’ve got a new local high here. Finally, bulls found a resistance at 1.1166, which led to the current local flat. So, the market is likely going to get a support at 1.1145 – 1.1120 during the day. Considering a possible pullback from this area, bulls will probably try to catch a resistance at 1.1166 – 1.1186 afterwards. More: https://new.fxbazooka.com/analytics/9996

XAU/USD: gold resumed trend 8/10/2016 On the daily XAU/USD chart there was unsuccessful test of the lower border of the medium-term uptrend channel painted in red. It points at the weakness of the bears. If the bulls manage to overcome resistance at $1365-1370 an ounce, the way to 1410 will remain open. On H1 XAU/USD the bulls managed to overcome resistance at $1350, which is now acting as support. The main goal of the bulls – to hold above this level. Success will increase the risks of testing $1360 an ounce and reach the $1364-1367 convergence area. Failure, on the other hand will lead to a decline to $1330-1340. More: https://new.fxbazooka.com/analytics/9995

GBP/USD makes a "dead cat bounce" 8/10/2016 On the daily GBP/USD chart the bulls make a lot of efforts to return the pair to the borders of the medium-term consolidation range of 1.3070-1.3490. Failure at its upper border will give the lead back to the bears and increase the risks of decline to 1.29 and lower. On H1 GBP/USD made an inversed "Shark" pattern. This will help the pair reach 113% target (1.311), although many will want to sell the pound at 38.2% (1.3115), 50% (1.3165) and 78.6% (1.3280) Fibonacci of the last descending wave. Traders should think about selling at the mentioned levels. More: https://new.fxbazooka.com/analytics/9994

NZD/USD & RBNZ Interest Rate Decision: Consolidating below 0.7050 after the event? 8/10/2016 Today at 21:00 GMT will be released the RBNZ rate statement, together with the official interest rate decision that could see a cut from 2.25% to 2.00%. Markets are expecting that rate cut and that's why we've have been seeing very volatile moves on the Kiwi, as the uncertainty remains there. Also, traders will be closely watching for the monetary policy statement, due to be published at the same time. The technical picture for NZD/USD at H4 chart is bullish on a general overview, as the pair remains trading above the 200 SMA. However, last week was quite bearish for the Kiwi and later it found support around the 0.7108 level. Also, during the last week, NZD/USD found resistance around the 78.6% retracement level, where a pullback happened. As the markets are expecting a rate cut, a decline to the 0.7050 level can happen, while a “hawkish” statement by RBNZ could send the pair to test the highs from last week. More: https://new.fxbazooka.com/analytics/9993

EUR/GBP rising inside minor impulse wave 5[/url] 8/9/2016 EUR/GBP rising inside minor impulse wave 5 Next buy target - 0.8620 EUR/GBP continues to rise inside the minor impulse wave 5 - which started earlier – when the pair reversed up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci retracement of the previous sharp upward impulse 3 from the end of June. The active impulse wave 5 belongs to the intermediate impulse wave (3) from the end of May. EUR/GBP is expected to rise further in the active impulse waves 5 and (3) toward the next buy target at the pivotal resistance level 0.8620 (which stopped the previous minor impulse wave 3 in June, as can be seen below). More: https://new.fxbazooka.com/analytics/9990

GBP/CAD reversed from resistance zone 8/9/2016 GBP/CAD reversed from resistance zone Next sell target - 1.6750 GBP/CAD recently reversed down sharply from the resistance zone lying between the resistance level 1.7550, upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp intermediate downward impulse (3) from June. The downward reversal from this resistance zone started the active intermediate impulse wave (5), which belongs to the primary impulse ③ from May. GBP/CAD is expected to fall further toward the next sell target at the strong support level 1.6750 (which stopped the aforementioned impulse wave (3) in July). More: https://new.fxbazooka.com/analytics/9989

USD/JPY: "Window" could act as a support 8/9/2016 There’s an “Engulfing” at the local high. Also, the last “Window” is still open, so the price is likely going to get a support on this “Window”. As we can see on the Daily chart, there’s a “Harami”, which has been confirmed enough. Therefore, bulls are probably going to deliver an upward correction. The pair has been declining since a “Gravestone Doji” was formed at the last high. So, the market is likely going to test the nearest Moving Averages. If we see a pullback from these lines, there’ll be an opportunity to have another bullish rally. More: https://new.fxbazooka.com/analytics/9988

EUR/USD: strong support by "Window" 8/9/2016 There’s a strong support by the nearest “Window”, so we’ve got a “Hammer” and an “Engulfing”, but both patterns haven’t been confirmed yet. Therefore, bulls are likely going to deliver an upward correction in the short term. As we can see on the Daily chart, here’s an unconfirmed “High Wave” at the local low. In this case, there’s an opportunity to have a correction towards the middle of the last black candles. We’ve got a consolidation, which brought a new support level. Also, there’re a “Harami” and a “Hammer”, so the market is likely going to rise in the direction of the nearest resistance line. More: https://new.fxbazooka.com/analytics/9987

EUR/USD: wave [iii] is about to be continued 8/9/2016 The price has been declining since a pullback from 4/8 Murrey Math Level (P=200) happened, so we’ve got a downward impulse in wave . Also, the pair found a lodgement, which makes possible to have an extension in wave [iii]. Under this circumstances, the intraday target is -2/8 Murrey Math Level. As we can see on the one-hour chart, wave (ii) has been formed under 4/8 Murrey Math Level. Therefore, bears are likely going to deliver wave (iii) in the short term. However, if bulls break 4/8 Murrey Math Level, there’ll be an opportunity to have another wave count with bigger wave 4. More: https://new.fxbazooka.com/analytics/9986

GBP/USD: two "Pennants" in a row 8/9/2016 There’s a consolidation along a support at 1.3015. So, the price is likely going to reach a resistance at 1.3119 in the short term. Considering a possible pullback from this resistance, we should keep an eye on the next support at 1.2849 – 1.2795 as a bearish target. The price faced a support at 1.2945, so we’ve got a “V-Bottom” pattern here, which led to the current flat. Therefore, bulls are likely going to reach a resistance at 1.3056 – 1.3071 shortly. At the same time, bears are strong enough to catch a support at 1.2945 – 1.2848 afterwards. More: https://new.fxbazooka.com/analytics/9985 More: https://new.fxbazooka.com/analytics/9985

EUR/USD: "V-Bottom" led to upward correction 8/9/2016 The price has been moving up and down under the Moving Averages. So, the market is likely going to get a resistance on the 89 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have a decline towards a support at 1.1045 – 1.1023. As we can see on the one-hour chart, there’s a “Flag” pattern, which points to a possible upward movement in the direction of the nearest resistance at 1.1120. However, if we see a pullback from this level, bears will probably try to achieve a support at 1.1032 -1.1023. More: https://new.fxbazooka.com/analytics/9984

Key option levels for Tuesday, August 9th 8/9/2016 EUR/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 17 720 ? + 1 316 ? Closest resistance levels 1.1156; 1.1174; 1.1196; 1.1222 Closest support levels 1.1047; 1.1029; 1.1005; 1.0977 Trading recommendations Baseline scenario Short EUR/USD below 1.1047, with target points at 1.1029 and 1.1005 Alternative scenario Moving above 1.1156 can be considered as a signal to buy the pair, with target at 1.1174 and 1.1196 GBP/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 3 037 ? + 2 906 ? Closest resistance levels 1.3162; 1.3211; 1.3273; 1.3346 Closest support levels 1.2936; 1.2912; 1.2885; 1.2856 Trading recommendations Baseline scenario Sell GBP/USD below 1.2936, with target points at 1.2912 and 1.2885 Alternative scenario Moving above 1.3162 can be considered as a signal to buy the pair, with target at 1.3211 and 1.3273 USD/JPY Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 3 283 ? + 1 249 ? Closest resistance levels 102.88; 103.18; 103.38; 103.63 Closest support levels 102.01; 101.53; 101.29; 101.01 Trading recommendations Baseline scenario Long USD/JPY above 102.88, with the target points at 103.18 and 103.38 Alternative scenario Moving below 102.01 can be considered as a signal to sell the pair, with target at 101.53 and 101.29 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest - 871 ? + 1 686 ? Closest resistance levels 1.3203; 1.3224; 1.3254; 1.3294 Closest support levels 1.3135; 1.3098; 1.3068; 1.3031 Trading recommendations Baseline scenario Buy USD/CAD above 1.3203, with the target points at 1.3224 and 1.3254 Alternative scenario Moving below 1.3135 can be considered as a signal to sell the pair, with target at 1.3098 and 1.3068 EUR JPY GBP CAD More: https://new.fxbazooka.com/analytics/9980

USD/JPY: testing the Clouds lower border 8/9/2016 Technical levels: support – 101.75, 101.20; resistance – 102.30/40. Trade recommendations: 1. Sell — 102.30; SL — 102.50; TP1 — 101.75; TP2 — 101.20. Reason: cancelled golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A. More: https://new.fxbazooka.com/analytics/9979

AUD/USD: the heavy growth of Aussie 8/9/2016 Technical levels: support – 0.7620, 0.7590; resistance – 0.7650. Trade recommendations: 1. Buy — 0.7620; SL — 0.7600; TP1 — 0.7680; TP2 — 0.7750. Reason: a bullish mood of Ichimoku Indicator; a golden cross of Tenkan-sen and Kijun-sen. More: https://new.fxbazooka.com/analytics/9978

EUR/USD: euro continues its consolidation under the cloud 8/9/2016 Technical levels: support – 1.1070, 1.1040; resistance – 1.1100, 1.1140, 1.1170. Trade recommendations: 1. Sell — 1.1060; SL — 1.1080; TP1 — 1.1000; TP2 – 1.0980. Reason: bullish Ichimoku Cloud, falling down Senkou Span A; dead cross of Tenkan-sen and Kijun-sen. More: https://new.fxbazooka.com/analytics/9977

USD/JPY: correction won't affect yen 8/9/2016 On the daily USD/JPY chart there's correction to the downtrend. The pair reached resistance at 102.69. A break of this level will open the way up to 103.93 and 104.38, recoil down from the resistance will lead to consolidation in the 100.69-102.69 area. On H1 USD/JPY reached 224% target of AB=CD pattern. Successful test of the upper border of the 100.83-101.82 range started a correction. The sentiment remains bearish, so sell on the increases to 103.27 (38.2% Fibonacci of the last descending wave), 103.93-104.08 (50%) and 104.89 (61.8%). Increase above 106 will make the risks of change in trend higher. More: https://new.fxbazooka.com/analytics/9974

EUR/USD: bears are preparing an attack 8/9/2016 On the daily chart EUR/USD formed a descending trend channel. As long as the pair stays below 1.1235-1.1259, the market's sentiment will remains bearish. Traders should sell either on growth or on breaks of support. The nearest support is at 1.1072. Look for resistance near 1.1175. On H1 EUR/USD is consolidating within the 1.1072-1.1105 range. The break below its lower border will lead to a decline to 1.1051 and 1.0967. Successful test of resistance will activate 5-0 pattern. The pair's increase to 1.1141 (50% Fibo of the last descending wave) and to 1.1163-1.117 should be used to form short positions. More: https://new.fxbazooka.com/analytics/9973